OREANDA-NEWS. Metinvest Group, an international vertically integrated group of mining and steel companies, announces changes in the governance structure of PJSC Ilyich Iron and Steel Works of Mariupol (MMKI) and Private JSC Ilyich-Stal.

Metinvest B.V. (the Netherlands) became a member of the supervisory boards of MMKI and Ilyich-Stal as of February 15, 2013. Metinvest B.V. will be the sole member of the supervisory boards of both enterprises and will serve a three-year term. Respective resolutions were adopted by the shareholders of MMKI and Ilyich-Stal at shareholders' meetings on February 14, 2013.

The changes were made to optimize corporate governance within Metinvest Group and standardize management processes. The shareholders of other enterprises within the Group adopted similar changes to their supervisory boards in 2012.

METINVEST GROUP is a vertically integrated group of steel and mining companies, managing every link of the value chain, from mining and processing iron ore and coal to making and selling semi-finished and finished steel products. The Group consists of steel and mining production facilities located in Ukraine, Europe and the USA and has a sales network covering all key global markets. Metinvest Group is structured into Metallurgical and Mining Divisions, and has a strategic vision to become the leading vertically integrated steel producer in Europe, delivering sustainable growth and profitability resilient to business cycles, and providing investors with returns at above industry benchmarks. In 2012, Metinvest produced 12.4 million tons of crude steel and 36.2 million tons of iron ore concentrate, and mined 11.6 million tons of coking coal.

The major shareholders of METINVEST B.V. (the holding company of METINVEST Group) are SCM Group (71.25%) and SMART-Holding (23.75%), who are partners in the management of the Company.

METINVEST HOLDING, LLC is the managing company of Metinvest Group.