Modernization of Grinding Ball Rolling Shop of Uzmetkombinat JSC
In connection with the rumors spread in the network Uzmetkombinat JSC officially informs that the currently dismantling of morally and physically worn out nonoperational equipment of section rolling mill “300” in the Grinding ball rolling shop within the framework of an investment project on modernization of the Grinding ball rolling shop is carried out.
Grinding ball rolling shop is carried out. The grinding ball-rolling shop was put into operation in 1946 and produces finished products: steel grinding balls Ø40 ÷ 120 mm, round Ø65 ÷ 120 mm with an annual production capacity of up to 250.0 thousand tons. The total area of the shop is 34.2 thousand square meters.
The need to expand production capacity is driven by increasing demand from the country's leading mining companies.
Phase I of the modernization project will be implemented in 2024-2025 and will allow Uzmetkombinat JSC to increase the production of grinding balls from 250 thousand tons to 400 thousand tons. Phase II is planned to be implemented in 2027-2028 and increase the production of grinding balls up to 500 thousand tons.
Dismantling of morally and physically worn out non-operational equipment of section rolling mill “300” is carried out to make room for new equipment.
Uzmetkombinat JSC additionally informs that the project “Construction of Casting and Rolling Complex” is realized according to the established work schedule. Construction and installation works have been completed by 70%, delivery of main technological equipment by 88%, and installation of technological equipment by 58%. The Casting and Rolling complex is planned to be put into operation in 2024.
Uzmetkombinat JSC asks to trust only official sources of information.
Note:
JSC Uzmetkombinat (JSC UZMK) is the leader of ferrous metallurgy in Uzbekistan, counting its history from 1944. Its manufacturing plant has an installed annual capacity of more than 1 million tons of rolled products and is implementing a large-scale investment program to increase capacity to 2.5 million tons per year during 2021-2025. The enterprise employs more than 12,000 people. Its products are sold in all regions of the country and are exported to various countries of the world, including Europe. More than 80% of the company's shares are owned by the Uzbekistan state. A significant portion of the company’s shares is traded on RSE "Toshkent". Common and preferred shares of the company have the status of highly liquid, and the market capitalization of the company is around UZS 4 trillion (approx. USD 350 million).
Additional inquiries should be addressed to:
Timur Sharifullin – t.sharifullin@uzbeksteel.uz
Disclaimer
This financial release contains forward-looking statements that reflect the current views of JSC Uzmetkombinat management regarding future events. They are generally denoted by the words "expect", "anticipate", "intend", "estimate", "aspire", "plan", "will", "forecast" and comparable expressions, and usually contain information that refers to expectations or goals regarding economic conditions, sales revenue, or other criteria for the success of an enterprise. Forward-looking statements are based on current plans, estimates and expectations within the current legal and regulatory environment and are therefore only valid as of the date indicated. Therefore, such statements should be considered with caution. Such statements are subject to numerous risks and uncertainties (such as those described in publications), most of which are difficult to estimate and are generally beyond the control of JSC Uzmetkombinat. Relevant factors include the consequences of prudent strategic and operational initiatives, including the acquisition or disposal of companies (interests in them) or other assets. If certain risks and uncertainties arise, or if the assumptions on which the statements are based prove incorrect, the actual results of JSC Uzmetkombinat may differ materially from those expressed or implied in these statements. Uzmetkombinat JSC cannot give any guarantee that expectations or goals will be achieved. Uzmetkombinat JSC, despite existing legal obligations, disclaims any responsibility for updating forward-looking statements to reflect new information or future events or other conditions or circumstances.
In addition to key figures prepared following IFRS and NSBU, respectively, JSC Uzmetkombinat presents key non-GAAP measures such as EBITDA, EBIT, net debt and net financial liabilities that are not a component of accounting rules. These key figures should be considered as a supplement to, but not as a substitute for, data prepared per IFRS. Non-GAAP key figures are not subject to IFRS or any other generally applicable accounting rules. When evaluating the net assets, financial position, and performance of JSC Uzmetkombinat, these additional indicators should not be used in isolation or as an alternative to key indicators presented in the consolidated financial statements and calculated by relevant accounting principles. Rounding differences can occur to percentages and figures.
Grinding ball rolling shop is carried out. The grinding ball-rolling shop was put into operation in 1946 and produces finished products: steel grinding balls Ø40 ÷ 120 mm, round Ø65 ÷ 120 mm with an annual production capacity of up to 250.0 thousand tons. The total area of the shop is 34.2 thousand square meters.
The need to expand production capacity is driven by increasing demand from the country's leading mining companies.
Phase I of the modernization project will be implemented in 2024-2025 and will allow Uzmetkombinat JSC to increase the production of grinding balls from 250 thousand tons to 400 thousand tons. Phase II is planned to be implemented in 2027-2028 and increase the production of grinding balls up to 500 thousand tons.
Dismantling of morally and physically worn out non-operational equipment of section rolling mill “300” is carried out to make room for new equipment.
Uzmetkombinat JSC additionally informs that the project “Construction of Casting and Rolling Complex” is realized according to the established work schedule. Construction and installation works have been completed by 70%, delivery of main technological equipment by 88%, and installation of technological equipment by 58%. The Casting and Rolling complex is planned to be put into operation in 2024.
Uzmetkombinat JSC asks to trust only official sources of information.
Note:
JSC Uzmetkombinat (JSC UZMK) is the leader of ferrous metallurgy in Uzbekistan, counting its history from 1944. Its manufacturing plant has an installed annual capacity of more than 1 million tons of rolled products and is implementing a large-scale investment program to increase capacity to 2.5 million tons per year during 2021-2025. The enterprise employs more than 12,000 people. Its products are sold in all regions of the country and are exported to various countries of the world, including Europe. More than 80% of the company's shares are owned by the Uzbekistan state. A significant portion of the company’s shares is traded on RSE "Toshkent". Common and preferred shares of the company have the status of highly liquid, and the market capitalization of the company is around UZS 4 trillion (approx. USD 350 million).
Additional inquiries should be addressed to:
Timur Sharifullin – t.sharifullin@uzbeksteel.uz
Disclaimer
This financial release contains forward-looking statements that reflect the current views of JSC Uzmetkombinat management regarding future events. They are generally denoted by the words "expect", "anticipate", "intend", "estimate", "aspire", "plan", "will", "forecast" and comparable expressions, and usually contain information that refers to expectations or goals regarding economic conditions, sales revenue, or other criteria for the success of an enterprise. Forward-looking statements are based on current plans, estimates and expectations within the current legal and regulatory environment and are therefore only valid as of the date indicated. Therefore, such statements should be considered with caution. Such statements are subject to numerous risks and uncertainties (such as those described in publications), most of which are difficult to estimate and are generally beyond the control of JSC Uzmetkombinat. Relevant factors include the consequences of prudent strategic and operational initiatives, including the acquisition or disposal of companies (interests in them) or other assets. If certain risks and uncertainties arise, or if the assumptions on which the statements are based prove incorrect, the actual results of JSC Uzmetkombinat may differ materially from those expressed or implied in these statements. Uzmetkombinat JSC cannot give any guarantee that expectations or goals will be achieved. Uzmetkombinat JSC, despite existing legal obligations, disclaims any responsibility for updating forward-looking statements to reflect new information or future events or other conditions or circumstances.
In addition to key figures prepared following IFRS and NSBU, respectively, JSC Uzmetkombinat presents key non-GAAP measures such as EBITDA, EBIT, net debt and net financial liabilities that are not a component of accounting rules. These key figures should be considered as a supplement to, but not as a substitute for, data prepared per IFRS. Non-GAAP key figures are not subject to IFRS or any other generally applicable accounting rules. When evaluating the net assets, financial position, and performance of JSC Uzmetkombinat, these additional indicators should not be used in isolation or as an alternative to key indicators presented in the consolidated financial statements and calculated by relevant accounting principles. Rounding differences can occur to percentages and figures.
