One of the Ukraine's industrial complex largest enterprises - Dnipro Metallurgical Plant (DMK) is forced to temporarily suspend part of its main production capacities. This was reported on the site of the plant.
The company explains this by the crisis in the metal products market.
"In the context of the global crisis in the metal products market, a decrease in profitability and a lack of working capital, Dnipro Steel Plant is forced to temporarily suspend part of its main production capacities," the statement said.
In order to reduce the current costs of the plant, as well as to save jobs, the enterprise administration decided not to put into operation the previously stopped repairs in the workshops. The staff servicing these production sites partially switches to auxiliary work.
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Dnipro Metallurgical Plant is one of the largest enterprises of the mining and metallurgical complex of Ukraine, which specializes in the production of cast iron, steel, rolled metal with a full metallurgical cycle for the production of 5600 thousand tons of sinter, 4350 thousand tons of pig iron, 3850 thousand tons of steel, 3829 thousand tons of rolled metal.
The plant employs about 9 500 people.
It is one of the six leading metallurgical plants in the country in terms of production and sales of metal products.
The formal owner of the DMK is the ISD Corporation. But since 2017, the company’s management is gathered from Rinat Akhmetov’s Metinvest Group, the supply of raw materials and the sale of finished products is carried out also through Metinvest’s structures.