OREANDA-NEWS.The SCM Group has completed the transaction on acquisition of shares of clay production companies "Druzhkovka Ore Mining" and "Ogneupornerud Fire Clay Mining" (45.38% and 50% respectively), the company's press-service announced. The purchaser of the shares is UMG (United Minerals Group) Limited (Cyprus), wholly owned by the SCM Group and holding shares of the SCM Group clay-mining assets. As a result, UMG concentrated 90.58% of shares of "Druzhkovka Ore Mining" and got full consolidation of shares of "Ogneupornerud Fire Clay Mining". In addition, UMG controls 93.88% of the Charter Fund of "Vesco Ceramic Clay Producer".

"SCM Company has been a shareholder of clay production companies for years, and is very well familiar with peculiarities of this area and can see the potential for growth," said Oleg Popov, General Director of SCM. - "Until the present day the clay-mining assets of the SCM Group presented just several separate companies operating at one market and geographically located not too far from each other. The possibility to manage the operation of the three clay-mining companies from a single center will allow us to realize our potential synergies and we have confidence that this will lead to a significant growth of the business and thus to a growth in its value," he added.

SCM Company is committed to further development of its business in clay production area considering the interests of the Company's employees, partners, investors and citizens in the regions of its presence. 

100% of the Charter Fund of SCM (System Capital Management) Limited (Cyprus) are controlled by ZAO "SCM". ZAO System Capital Management is the largest Ukrainian managing company, which owns and controls assets in mining and metals, energy-generating industries, telecommunications, banking, insurance, media, retail, and other sectors of economy. In particular, the SCM Group controls Metinvest Holding, DTEK, Farlep-Invest, Optima Telekom, SCM Finance, Syegodnya Publishing House, TRK Ukraina, Ukrainskiy Retail, etc.