News
05-12-2008 15:42 Ukraine
Ukraine to slash steel production in 2009
Steel production in the Ukraine will decrease not less than 25-30% in 2009 as compared to the similar period of the previous year. Such a statement was made by Vladimir Boiko, the general director of one of the largest Ukrainian steelworks – Mariupol Metallurgical Combine (MMC) named after Ilyich, Korrespondent.net reports.
As it was reported in the middle of November, MMC almost halved salaries of its workers. At the end of October the leader of the Party of Regions Victor Yanukovich was reported as saying that the plant had stopped its production; however, the enterprise’s press service refuted this statement later. At the same time, it was reported that the plant worked at one-half of capacity.
We remind that as early as at the beginning of October mass media reported that Ukraine had faced a metallurgical crisis. Due to reduction of prices for metals caused by the world financial crisis Ukrainian manufacturers had to cut down their production.
According to the Ministry of Industrial Policy of the Ukraine, November saw total production of metals decreased by 50 percent as compared to the similar period of 2007. In particular, the production of steel dropped by 55 percent.
Source: Lenta.ru
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