OREANDA-NEWS. December 26, 2013. Specialists of the FBK valuation department finished the valuation of assets of the Belorussia metallurgical works subsidiaries for the IFRS reporting purposes.

The appraisal included the valuation of permanent assets of all subsidiaries of the Belorussia metallurgical works – 15 enterprises.

According to Alexander Matyushin, the FBK valuation department deputy director, the uniqueness of the assignment was in the requirement to take into consideration the specifics of legislation and economic activities in the Republic of Belarus, as well as the specificity of the regional location of the holding company objects – throughout the country. To implement these objectives, the technique was applied with the elements of fixed assets mass valuation.
FBK specialists supervised the work of the international team of consultants from Russia, Belorussia and the Ukraine.

“We hope that FBK specialists will continue their collaboration with the Belorussia metallurgists: the holding company keeps growing and acquiring new assets, and their valuation and reporting transformation is still relevant,” said Alexander Matyushin.

The Belorussia metallurgical works is the largest iron and steel enterprise in the Belarus Republic. It produces over M2.5 tons of steel, about M2 tons of rolled metal and over 100 ths tons of fabricated metal products a year, the annual proceeds from sales is near 2 bn US dollars.