Ukrainian Company Buying Large Scrap Processor

Interpipe Group, a Ukranian-based steel pipe and railway wheel producer has acquired 95.95 percent of the shares of OJSC "Dnepropetrovsk Vtormet," one of the largest scrap metal processing plants in Ukraine.

Alexander Kirichko, Interpipe’s CEO, said, "The acquisition of this scrap metal processing plant is the next important step forward in the transformation of Interpipe into a fully vertically integrated company. Dneprovtormet’s facilities will enable us to satisfy our growing needs in scrap metal for the production of pipe and wheel billets, and will also provide high quality raw materials to our new electric steel melting facility Interpipe Steel, which is due to come on stream in 2010".

OJSC "Dnepropetrovsk Vtormet" is the second largest scrap metal processing plant in Ukraine. The plant’s facilities for metal scrap storage and processing total 950,000 tons per year. The plant has a wide spread of areas for scrap collection in Central and Eastern Ukraine.