Kazchrome (Kazakhstan) to produce 950 th. tons of ferroalloys in 2000

/IRBIS, June 26, 00/ - REUTERS informs, with the reference to the vice- president of Kazchrome, Zaure Zaurbekova, that transnational company intends to maintain last year's production volume in this year and produce about 950 th. tons of ferroalloys. TNC Kazchrome, one of metallurgical companies controlled by Eurasian bank, and combining two plants - Aksu ferroalloy plant in the north and Ferrochrome of Aktobe, and Donskoi GOK in the west, is said to celebrate its five year anniversary on last Friday. Most of all ferroalloys produced by the country in last year (999,600 tons) came from TNC Kazchrome enterprises. The chairman of the Board of Eurasian bank, Aleksandr Mashkevich said that the banks was conducting talks with several foreign companies that want to merge with Kazchrome. He believes that if it has to happen then the company will have the key position in the world. Vice-president of the company said Kazchrome's income in last year was KZT14 bln, and that it had paid KZT8 bln in taxes to the state budget. The managers of the company told that profit rose three times relative to 1998 due to significant increase in the world prices in the second half of last year and the cost reduction. Mashkevich said the market situation had been the most difficult in 1998 and in the first half of last year for the last twenty years. He said they had used all possible reserves and had cut the costs. The growth took place due to these measures and the improvement of the situation on the market, he said. He said this year profit would be much higher. It is said German smelting furnace Mannesman was put into operation on last Friday at Aksu ferroalloy plant, which is believed to increase the production by 73,000 tons. Vice-prime minister of Kazakhstan, Aleksandr Pavlov said that the putting the furnace into operation would establish one more niche for the Kazakhstani goods and the country would receive currency to improve its payment balance. The company also produces ferrosilicomanganese, ferrosilicochromium, ferrosilicon, which are used to produce high quality steel.