According to a Metinvest press release published on Thursday, the Group's Italian rolling mills Metinvest Trametal (San Giorgio di Nogaro, Udine) and Ferriera Valsider (Vallese di Oppeano, Verona) will undergo repairs and production of metal products has been suspended.
“Following the full-scale invasion of Ukraine by Russian troops in February 2022, the group’s rolling mills began to establish their activities as independent businesses and purchase slabs, which previously supplied the company’s Mariupol assets, on the open market. To make this transition more efficient, Metinvest has decided to carry out annual plant maintenance earlier in 2022, moving it from August to May. to-conduct-scheduled-maintenance-of-italian-re-rolling-plants" target="_blank" rel="noopener nofollow external">says in the press release.
The company clarified that production at Italian factories will be resumed in June 2022, when new supplies of raw materials begin. Despite the change in the supply chain of Metinvest's flat steel producers, the group will continue to provide them with operational and financial support.
The main shareholders of the Metinvest Group are Rinat Akhmetov's SCM (71.24%) and Vadim Novinsky's Smart Holding (23.76%), which jointly manage the company.