Ferrexpo

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Ferrexpo plc
Type Public
Traded as LSEFXPO
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]
Operating income $401.4 million (2013)[1]
Net income $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 a constituent of the FTSE 250 Index.

History[edit]

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[edit]

The Company sells most of its product to the steel mills of Eastern Europe.[5] It is organised into the following units:

Ownership[edit]

The founder, Kostyantin Zhevago, owns 51% of the company.[6]

References[edit]

External links[edit]