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Controlling stake in the Zaporozhye plant of special steels Cyprus-based company bought Wenox Holdings

On the company Wenox Holdings Ltd. last week (Cyprus) became the owner of a blocking stake of securities Zaporizhzhya metallurgical plant PAO «DSS», prepared the 47.113% of the total share capital. The company now has 506,477 ordinary registered shares of the plant. In parallel with this, it is reported that another Cypriot company — «Overcon Enterprises Limited», previously owned a 15% stake — has ceased to be the owner of the share Dniprospetsstal assets.

PJSC «Electrometallurgical plant» DSS «to them. AN Kuzmin «- International company specializing in the development and production of a large range of special steels. This stainless steel metal, heat-resistant, bearing, structural alloy and carbon compounds, tool alloys (including high-speed steels and powder materials) and products of other brands.

According to a press-service of the company report for the past year, the plant increased its production of steel by 9.5% (in comparison with the annual results of 2010) and rental facilities in the DSS was released in 2011 by 11%. Net income of public companies during this period amounted to USD 57,348,000… These indicators show that the financial situation for Dniprospetsstal stabilized in the last two years. Recall that in 2009 the net loss of the company amounted to UAH 117,272,000.

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