Ferrexpo

Ferrexpo plc
Public
Traded as LSE: FXPO
Industry iron ore Mining
Founded 1960
Headquarters Baar, Switzerland
Key people
 Michael Abrahams, Chairman
Kostyantin Zhevago, CEO Christopher Mawe CFO
Products iron ore pellets
Revenue $961.0 million (2015)[1]
$251.1 million (2015)[1]
$31.5 million (2015)[1]
Subsidiaries Poltava Mining and Extraction Combinat, Yeristovo Mining and Extraction Combinat
Website www.ferrexpo.com

Ferrexpo plc is a Swiss-based iron-ore producer operating in Ukraine. It is listed on the London Stock Exchange.

History

The business was founded by the Soviet government in 1960 as the "Poltava Mining and Extraction Combinat" to exploit iron ore reserves in Komsomolsk, Ukraine.[2] The business was privatised in 2001 by the Ukrainian Government. In 1977 it started selling its product in the form of pellets. It was first listed on the London Stock Exchange in 2007.[2] In 2011 the company announced that it was considering expansion in countries outside Ukraine.[3]

Ferrexpo acquired an $80 million stake (14.4%) in a Brazilian mining company Ferrous Resources in September 2013 as part of its push to expand beyond Eastern Europe.[4]

Operations

The Company sells most of its product to the steel mills of Eastern Europe.[5] It is organised into the following units:

Ownership

The founder, Kostyantin Zhevago, owns 51% of the company.[6]

References

  1. 1 2 3 "Preliminary Results 2015" (PDF). Ferrexpo. Retrieved 3 December 2016.
  2. 1 2 "Ferrexpo appoints new CFO". Director of Finance on line. 3 December 2007. Retrieved 3 December 2016.
  3. ↑ "Ferrexpo considers expanding out of Ukraine". Financial Times. 4 August 2011. Retrieved 3 December 2016.
  4. ↑ "Ferrexpo acquires $80 million stake in Brazilian miner". Financial Times. 18 September 2013. Retrieved 3 December 2016.
  5. ↑ "Ferrexpo has attractions despite founder's big slice". The Times. 21 March 2008. Retrieved 3 December 2016.
  6. ↑ "Ferrexpo must show its mettle to woo investors". The Times. 10 June 2007. Retrieved 3 December 2016.

External links

This article is issued from Wikipedia - version of the 12/3/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.