REMZ more than doubles billet output in H1

Thursday, 01 July 2010 15:05:47 (GMT+2)

The Russian steel producer ESTAR Holding (ESTAR) has announced that in the first half of the current year its Rostov-based subsidiary Rostov Electrometallurgical Works (REMZ) increased its billet output by 2.3 times year on year to 324,000 mt, of which 143,000 mt were produced in the first quarter, while 180,000 mt were produced in the second quarter.

According to the company's statement, the increase in REMZ's operational results is associated with relatively low production volumes in 2009, stabilization of scrap supplies, improved conditions in the steel market and steady sales of finished products.
 
Currently, the plant operates at full capacity, and plans to produce more than 700,000 mt of products in 2010.

With an annual capacity of 730,000 mt, in 2009 REMZ produced about 383,000 mt of billet. Meanwhile, having started its production operations on January 25, 2008, on May 5 this year the plant produced its first million mt of steel.

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