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Belarusian Steel Works expands export area

GOMEL, 4 November (BelTA) – In January-October 2009 Belarusian Steel Works (BMZ) expanded its export geography by 17 countries, BelTA learned from representatives of the company’s Information and Ideology Department. The company has started supplying its products to Iraq, Iran, Israel, Senegal, Ghana, Nigeria, Sudan, the Philippines, Afghanistan, Morocco and some other countries in Africa and Middle East. At present BMZ trades with almost 60 countries on five continents. BMZ stepped up the search for new partners following the declining demand for ferrous metallurgy products on the traditional markets of the CIS states and the European Union. Apart from that, the price for a tonne of metal products sold on the markets BMZ has gained this year is about $20-30 higher. At present the export to the new markets accounts for some 23-25% of the total supplies. The company has decided to set up a proprietary trading house in the United Arab Emirates in order to sell its products in the country and neighboring states. The project will be implemented by the end of the year. Negotiations for supplying seamless oil industry pipes to Venezuela are underway. Specialists believe that the successful diversification of export markets has considerably improved the company’s financial status. For instance, the volume of sales in July-October 2009 is considerably higher than the average sales registered in January-June 2009. In particular, in October BMZ exported $78.5 million worth of commodities ($4 million more than in September). The stock reserve has been reduced from Br200 billion to Br60 billion. The profitability of sold products totaled 9.4% in June, 9.9% in July, 6.7% in August, and 10.4% in September. Founded in 1984, BMZ is at the CIS forefront of equipment standards. Belarusian Steel Works is an export-oriented company. Export exceeds 85% of the company’s output. BMZ offers cast sections, rolled sections, profiled iron, reinforcing bars, metal cord and other kinds of wire.

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