SKM Rinat Akhmetov hopes to improve its situation in 2014

One of the largest Ukrainian companies JSC Capital Management systems (SCM), which owns the enterprises of metallurgical and mining industries, intends to benefit from favorable trends in the growth of the world economy. This was stated by the head of the Department of Relations with Investors.

The company SKM, belonging to the richest man of one of the former Soviet republics Rinat Akhmetov, intends to sell more raw steel, energy and mountain machines abroad next year, if the economy in Europe and the USA begins to restore, and the economic growth of China will be about 7.5%, IR director of the SKM Mendoza-Ovilson said in an interview with Kyiv.

“We expect that the economic situation in 2014 will probably be a little more favorable than in the last two years,” Mendoza added.

Since 2008, the economy has been entering into a recession since 2008, in the previous quarter the world demand for the main types of Ukrainian products - metals and chemicals, has been reduced. As a result, industrial production in October in the country decreased by 4.7% compared to similar indicators of last year.

SKM controls more than 100 companies in metallurgical and mining industries, energy, engineering, banking sector, communications and other areas. The basis of export of SKM products is steel, electricity and mountain machines.

Metinvest company, which is part of the SCM, reported a decrease in raw steel smelting in the first half of this year by 8% to 6.2 million tons.

At the same time, it is expected that the industrial growth of the SKM energy division will be observed due to the modernization and increase in the power of metallurgical and mining plants, added Mendoza-Swingson.

On November 13, the Fitch agency seriously reduced 11 Ukrainian companies in the ranking of 11 Ukrainian companies, including DTEK and Metinvest, in connection with the weak economic growth and deterioration of a climate business in Ukraine.