28 May 2014
Zaporozhye Titanium and Magnesium Combine increased its titanium sponge sales in April 2014
“Our outputs have exceeded production plans. In January-April 2014, we produced 2001 tons of titanium sponge, which is 3.7% more than what was planned,” commented Volodymyr Sivak, Director of ZTMC. “At the same time, we continue the planned technical modernisation aimed at expanding production capacities of the company. Over January-April 2014, investments from Group DF allowed us to spend UAH 4.67 million on projects aimed at strategic development and modernisation. An additional UAH 4.73 million was spent on capital overhauls of technological equipment.”
The programme of technical modernisation of ZTMC provides for gradual investments in construction of new titanium sponge production capacities, which would allow ZTMC to produce up to 40,000 tons of titanium sponge per year. This would enable Ukraine to increase its share on the global market from the current 5% to 14%.
Having become an investor in ZTMC in 2013, Group DF fully implements its investment obligations. This included the Group transferring 75% of its contribution to the statutory and additional capital of ZTMC LLC, which amounted to USD 82.5 million. This provided the company with the funds necessary to implement its reconstruction plans.