OREANDA-NEWS. April 28, 2009.  Based in Geneva, Metinvest International – the export channel of Metinvest Group outside Ukraine and CIS - continued its strong growth in 2008 despite the unfavourable world economic situation in the last quarter of the year: sales exceeded 7.1 billion Swiss francs, up to 75% compared to the previous year, reported the press-centre of SCM.

Metinvest International's sales growth is not only explained by the record market prices increase registered over the first semester of the year, but also by a performing sales strategy. The shipment of iron ore and steel products reached 12.7 million metric tons, up to 22% as compared to 2007.

All the major group's products contributed to the sales and volume increase. Today, Metinvest handles 4% of the world market for pipes, 9% for merchant square billets and 4% for heavy plates.

The overall outstanding performance of Metinvest International in 2008 was however darkened by the fast deteriorating business environment in the last quarter of the year, where the sales volume declined sharply in all product ranges and all geographic areas.

"The present economic situation requires very flexible and rapid reactions to the demand evolution. Adequate measures have already been taken in order to align our cost structure with the current environment. Since beginning of the year 2009, the sales orders are in line with revised expectations",- said Andrey Parkhomchuk, CEO of Metinvest International, at the Annual Meeting of Shareholders.

More than ever Metinvest International’s aim remains to create a world-class steel trade company achieving the top most positions in Europe and worldwide.

About Metinvest International and its Group
Metinvest is an international vertically-integrated mining and steel group of companies. Production facilities of Metinvest produce enough steelmaking raw materials to meet its own demand and to be the key supplier to major steelmaking companies in Ukraine, Europe and Asia.
The major shareholders of Metinvest are SCM Group (75% ownership) and Smart-Holding (25% ownership) partnering in Company’s management. The merger of mining and metals assets of SMC and Smart-Holding has started in 2007 and will have been accomplished in 2009.

Metinvest Holding is the managing company of Metinvest Group.

Metinvest International SA (formerly known as Leman Commodities SA) is the distribution channel of Steel and Rolled Products Division’s Sales Service. It is responsible for export sales of iron ore and steel products produced by Metinvest Group steelmaking companies and other enterprises outside Ukraine and CIS. Metinvest International has representations and agencies in 12 countries around the world, which constitute the global sales network covering all major regional market segments. Particularly, the company is represented in Istanbul (Turkey), Beirut (Lebanon), Shanghai and Beijing (China), Milano (Italy), Santo-Domingo (Dominican Republic), Toronto (Canada), Belgrade (Serbia), Teheran (Iran), Vilnius (Lithuania), Khartoum (Sudan), Ashgabat (Turkmenistan), Singapore (Singapore). The company’s head-quarters office is located in Geneva (Switzerland).