OREANDA-NEWS. July 20, 2011. The market value of Belarusian Metal Plant (BMZ) is USD 8 billion, First Deputy Prime Minister of Belarus Vladimir Semashko said when visiting the company,” BMZ said.

Semashko said the process of turning BMZ into an open joint-stock company was underway. “The process has started and will be completed within six months. The creation of an OJSC will enable BMZ to attract investments. By the way the market value of the enterprise is USD 8 billion.”

The smelter reported profits in the first half of 2011. “The year 2010 was harder: it recorded losses in the first eight months and swung to profits in September. The profitability rate is high now, there are orders for the next six months, and it is important to work at full throttle,” Semashko said.

BMZ is implementing an investment program with projects of various degrees of complexity – the sheet-rolling complex and small-section mill, as well as upgrade projects. According to Semashko, foreign investors should be engaged in the projects.

BMZ was established 1984. It exports 85% of its make, non-CIS countries account for 70% of exports.