Estar Group
ROSTOV-ON-THE-DON. Aug 24 (Interfax) - Mirsteel Plant (Wales, part of he Estar Group) plans to start producing 50,000 tonnes of hot-rolled coil on a monthly basis by the end of the year, Vadim Varshavsky, Estar's owner, told Interfax.
"We launched the plant in June and 100 jobs have been created in Wales. The first output is hot-rolled coil, which the plant started producing in July. Production will reach 50,000 tonnes monthly by year's end," he said.
Last Friday, Varshavsky told Interfax that the plant is operating at 30% capacity. The plant's capacity comes to 1 million tonnes of hot-rolled sheet a year. Therefore, production of 50,000 tonnes a months equals 60% capacity.
Varshavsky said that the plant would reach its design capacity based on the market and British demand because the Mirsteel plants "operates on the British market and is tied to a British country where the economy is still not very well."
It was earlier reported that Mirsteel Plant in Britain had been included in Igor Zyuzin's (the beneficiary in Mechel ) acquisition of metallurgical assets in Brazil from the Monteiro family. Varshavsky denies that the plant has been sold.