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Corum Group and Metinvest have concluded a strategic Alliance

25 Марта 2014


Corum and international vertical-integrated company Metinvest have signed the agreement on a strategic Alliance for a period of five years. The Document Purpose is enhancement of partnership relations that will have a positive impact on business performance of both companies.

“Cooperation within the framework of the Alliance is a serious opportunity for development of relations between Corum and Metinvest Group up to a level of long-term strategic partnership by deep understanding of client’s problems and integration into its business”, General Director of Corum Group Evgeniy Romashchin has noted.

The signed document gives to Company Corum the guaranteed annual amount of orders on delivery of equipment and repair parts, growth of the income from rendering services that allows pressure of business to plan and resource efficiency to increase.

Criteria of success of the agreement for Metinvest are growth of efficiency of mining operations, cost saving per ton of output, introduction of new productive equipment; increase of reliability of machinery and level of safety of mining operations.

A package of actions within the Alliance that the companies plan to implement in the current year includes five pilot projects for repair and maintenance of equipment for mining and concentration complexes of Metinvest, development and delivery of a new range of spare parts and equipment for open-pit mining.

Within the frameworks of these projects, there are planned industrial tests of the new equipment in the mines of the industrial association "Krasnodonugol" (a part of Metinvest Group) also. The Technical Director of the association Vladimir Knyazev has told about advantages of the Alliance for "Krasnodonugol": “The Alliance gives us the opportunity to submit orders for machinery and to receive it timely. This is important because directly influences accomplishment of our production program in the necessary volumes and right on time. Moreover, in the near future specially for our needs Corum company will open a consignment warehouse that will as much as possible minimize potential downtime of our equipment if various parts are necessary. Also, a timely diagnostic of the equipment by the manufacturer which is also agreed in the conditions of the Alliance, will allow us to avoid emergency downtimes. All this will have certain positive impact on production performance of both "Krasnodonugol" and Metinvest Group as a whole".

It is to be recalled that this is not the first strategic alliance agreement for Corum company. In May last year the company has signed a similar agreement with the largest energy holding of Ukraine, DTEK company.

Information about the company

Corum Company (previously SPC "Mining machines") is affiliated to one of the largest financial and industrial groups of Ukraine “System Capital Management” (SCM) and today is an expert in mining business. The company’s activity is focused on providing high-tech package solutions, manufacturing and service of the equipment in the field of production, processing and transportation of minerals, as well as the construction of mines. Corum Company owns 7 production plants, repair sites in Ukraine and Russia, and also commercial firms in Ukraine, Russia, Kazakhstan, Vietnam and Poland.

According to PricewaterhouseCoopers audited data, in 2012 the total amount of the company’s sales has made 312.9 million euros. EBITDA has made 62.1 million euros.

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