OREANDA-NEWS. June 16, 2010. Metinvest affirms that the company is in the process of negotiations with Ilyich Iron and Steel Works of Mariupol on the possible cooperation and joining efforts to overcome the implications of the global financial crisis.

The parties are considering opportunities for cooperation and utilization of joint resources to ensure strengthening of positions of national producer on global markets.   

The companies will inform about the agreements reached upon the completion of the negotiations.

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Metinvest is an international vertically integrated mining and steel group of companies. Production facilities of Metinvest produce enough steelmaking raw materials to meet its own demand and to be the key supplier to major steelmaking companies in Ukraine, Europe and Asia. The major shareholders of Metinvest are SCM Group (75% ownership) and Smart-Holding (25% ownership) partnering in Company’s management.