After solving the dispute over the ownership of its controlling stake, the Ukrainian flat steel producer Ilyich Iron and Steel Works of Mariupol (Ilyich) intends to merge with Metinvest Holding (Metinvest), one of the country's largest mining and steel producing companies, in order to secure raw material supplies, Ilyich CEO Vladimir Boyko has stated.
"We need to merge with a partner who has a raw materials base. That is why we are currently negotiating with Metinvest; firstly, because it is a Ukrainian company, and secondly, because it has raw materials - ore, concentrate and coke. From our side, there is a strong company and staff," Mr. Boyko said.
"Joint operations should be only for the benefit of Ukraine, and so we are carrying on these negotiations, and I think that we will soon conclude them with a positive result," Mr. Boyko said, adding that the main requirement of the merger is to protect the interests of employees, of the enterprise, and of Mariupol city.