"United Mining and Chemical Company" | News | SE UMCC’s inform in 2015 exceeded UAH 770 mn

SE UMCC’s inform in 2015 exceeded UAH 770 mn
SE UMCC’s inform in 2015 exceeded UAH 770 mn

02.06.2016

State Enterprise United Mining and Chemical Company reported UAH 733 mn income in 2015. “We are happy with the results of last year, as they are considerably better than those the plants reported being rented, in particular in 2013. This means that the government profited from returning these companies into state ownership,” commented First Deputy Director General of SE UMCC Aleksandr Gladushko.
SE UMCC will pay over UAH 650 mn in taxes and duties based on the results of last year, according to him. The company achieved positive results thanks to increasing sales and well-coordinated work of the team, says Gladushko. Specifically, in Q1 2015 the total of 45,000 t of products for the total of UAH 205 mn were sold, while in Q4 2015, 152,000 t of products for the total of UAH 683 mn were sold.
 
Overall, in January – December 2015, SE UMCC sold over 430,000 t of products for the total amount of UAH 1.75 bn. In particular, 163,000 t of ilmenite, 49,000 t of rutile and 25,000 t of zircon were sold.
 
At the same time, all throughout 2015 the company was under the influence of decrease of prices and demand on the world titanium raw materials markets, notes Gladushko. For these reasons, as of January 1, 2015, around 100,000 t of ilmenite, 5,000 t of rutile and 2,000 t of zircon for the total of UAH 340 mn remained unsold. “Unfortunately, we were unable to bring the production capacities of the plants to the projected levels due to the problems with sales, but we are hoping to do so as soon as the situation on the world market allows,” assures Gladshko.