OREANDA-NEWS. August 16, 2007.  A meeting of shareholders of ЃgIlyichЃh iron and steel works OJSC was held.

Six issues were under consideration. Particularly, approved of was the report of the Board on the results of financial and business activities of PJSC in the year of 2006, also approved of were the report of the revision commission, the financial results and distribution of profits for the current year. Besides, some alternations and amendments were introduced into the Regulations of ЃgIlyichЃh works PJSC and Regulations of its branches.
The shareholders made a decision to allocate the profit, received in the previous year, amounting to 914.4 million of hryvnas into the reserve fund.

It was noted in the report on the results of business activities of the company in 2006, made by V.S. Boyko, the Chairman of the Board that in spite of unstable state of the world metal market and growth of prices of raw materials and energy carriers (5ЃЁ51%) growth was archived for the main types of production in comparison with the year of 2005:
for cast iron + 3.7 %
for steel +0.5%
for commercial rolled stock +1.8 %.

Despite negative outside factors and decrease in profitability implementation of the program of technical modernization and restructuring of both main and auxiliary production continued: No3 continuous casting machine was put into exploitation in oxygen converter shop, reconstruction of the oxygen shop was completed, and BP„T-60 oxygen unit was installed there.

Overall expenses on technical modernization and restructuring of the production capacities amounted to 1,060 million of hryvnas.

The program of measures aimed at environmental protection received active financing.
The effect of the arrangements carried out was a decrease in atmospheric emissions by 10,000mt in the year under review, while the total decrease in atmospheric emissions was 33,000mt,

due to the drop in production of sintered ore and implementation of nature protection arrangements.

In 2006, like in the previous years, continued was a complex program of measures, aimed at ensuring social protection of the societyЃfs workers and solving of the problems of youth employment and leisure. Not a single case of delay in payment of workersЃf wages was registered. The average salary of one worker (with regard to all categories) was 1,610 hryvnas (+9.4%), the average salary of the production personnel was 2,001 hr.(+9.8%) and in December 2006, the salary of production personnel reached 2,199 hryvnas.

The planned ЃgYouth-2006Ѓh program was realized, resulting in hiring 1,084 persons, younger than 30 years. Social sphere of the shareholdersЃf society achieved some further development in the year under review. Nearly 28,000 persons improved their health at recreation bases, boarding houses of rest and shopsЃf recreation bases. .

ЃgHousingЃh program was continued in the year under review and 162 flats were purchased for the workers who were on the waiting list, with 15 years period of payment by installments. The program of support in purchase of automobiles was also active and credits, amounting to 14.8 million of hryvnas were allocated to 451 persons.

The society continued to support the cityЃfs municipal objects, such as schools, hospitals etc.
124.4 million of hryvnas was spent on these purposes.

ЃgIlyichЃh iron and steel works are a public joint stock society. The amount of the societyЃfs statutory fund was 837.9 million of hryvnas for 01.01.2007.

The biggest shareholder is ЃgIlyichstalЃh PSC, possessing 90.41% of the stock.
Overall number of workers was 58813 persons on 01.01.2007.
The works comprise 142 structural divisions.