With immediate effect, the Seven Refractories Austria holding has become the sole owner of the Ukrainian subsidiary. Up to now, a minority share of 49% had been in the hands of Ukrainian joint venture partners.
„Despite a difficult political and macro-economic environment, Seven Ukraine has achieved outstanding results over the last years. With MMK, Azovstal, Ilyich, EVRAZ, and Zaporizhstal we have won sizeable customers and laid the foundation for sustainable growth in the Ukraine. Together with our strong belief in normalization of economic circumstances, this was the reason to acquire full ownership from our previous joint venture partners“, explains Vladimir Bedov, Board VP and Managing Director of Seven Refractories Austria.
Seven Refractories is proud to be fully represented in Ukraine and wishes the Ukrainian team lots of success!