Metinvest to Raise Steel Output 61% After MMK Ilyich Asset Deal

Bloomberg reports that Metinvest is planning to increase steel production through the next year after completing a deal with MMK Ilyich.

The market news is quoted as saying,

Metinvest and Mariupolsky Metallurgical Zavod of Ilyich, known as MMK Ilyich, are merging assets to create a joint venture with annual output capacity of 20 million tons of steel. Metinvest, owned by Ukraine’s richest businessman Rinat Akhmetov, agreed to control 75 percent of the venture and buy shares in Mariupolsky.

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