Zaporizhstal, is Ukraine's fourth largest steel maker with an annual capacity of 4.5 mil. tonnes of steel, 3.3 mil. tonnes of pig iron, 4.1 mil. of finished steel products, and ranks 54th in the world. The leader of the national industry is Kryvorizhstal. The company is Ukraine's only manufacturer of cold-rolled sheets, used in car manufacturing, as well as tinplates and polished stainless and alloyed steel. Zaporizhstal is located in the city of Zaporizhia, in a region with the highest per capita electricity output in Ukraine, close to raw material suppliers and steel consumers (pipe and machine building companies). The company was founded in 1931.
Eduard Shifrin, co-founder with Alex Shnaider of Midland Group (a holding company headquartered in Guernsey that embraces interests in steel (Zaporizhstal), shipping, real estate, agriculture and motorsport with Midland F1 Racing), take the control of privatised steelmaker Zaporizhstal.
In 2003, the company produced 4,355 ths. tonnes of raw steel (market share of 12%) and 3,625 ths. tonnes of finished steel products (11% share). Exports, delivered to 59 countries, accounted for 70% of Zaporizhstal's 2003 sales, with China, Middle Eastern states and the CIS among the main destinations.