Ferrexpo
 | |
| Public | |
| Traded as | LSE: FXPO |
| Industry | iron ore Mining |
| Founded | 1960 |
| Headquarters | Baar, Switzerland |
Key people |
Michael Abrahams, Chairman Kostyantin Zhevago, CEO Christopher Mawe CFO |
| Products | iron ore pellets |
| Revenue | $1,581.4 million (2013)[1] |
| $401.4 million (2013)[1] | |
| $263.8 million (2013)[1] | |
| Subsidiaries | Poltava Mining and Extraction Combinat, Yeristovo Mining and Extraction Combinat |
| Website | www.ferrexpo.com |
Ferrexpo plc is a Swiss-based iron-ore producer operating in Ukraine. It is listed on the London Stock Exchange.
History
The business was founded by the Soviet government in 1960 as the "Poltava Mining and Extraction Combinat" to exploit iron ore reserves in Komsomolsk, Ukraine.[2] The business was privatised in 2001 by the Ukrainian Government. In 1977 it started selling its product in the form of pellets. It was first listed on the London Stock Exchange in 2007.[2] In 2011 the company announced that it was considering expansion in countries outside Ukraine.[3]
Ferrexpo acquired an $80 million stake (14.4%) in a Brazilian mining company Ferrous Resources in September 2013 as part of its push to expand beyond Eastern Europe.[4]
Operations
The Company sells most of its product to the steel mills of Eastern Europe.[5] It is organised into the following units:
- Ukraine - mining and sale of iron ore
- Switzerland - sale of iron ore
Ownership
The founder, Kostyantin Zhevago, owns 51% of the company.[6]
References
- 1 2 3 Preliminary Results 2013
- 1 2 Ferrexpo appoints new CFO Ambition, 3 December 2007
- ↑ Financial Times: Ferrexpo considers expanding out of Ukraine Kyiv Post, 4 August 2011
- ↑ Ferrexpo acquires $80 million stake in Brazilian miner, International: Reuters, 2013
- ↑ Ferrexpo has attractions despite founder’s big slice
- ↑ Ferrexpo must show its mettle to woo investors