Byelorussian Iron and Steel Works (BMZ) has issued its preliminary production results for 2008.
Accordingly, in 2008 BMZ increased its output of steel products by 11.4 percent year on year to 2.14 million mt, of which 1.43 million mt were rolled steel products.
The fulfillment of its production targets has allowed BMZ for the first time to register an annual profit from sales exceeding $2 billion.
The company's exports in 2008 amounted to a value of $1.66 billion, up 44 percent year on year.
Despite the drop in sales in the second half of the year, caused by the global financial crisis, in 2008 BMZ fulfilled most of its socio-economic development objectives, and expanded its sales of steel products to the Middle East, Southeast Asia, and Africa. Moreover, in January 2009 BMZ started its first shipments to Israel, Nigeria, and Cote d'Ivoire.