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INDUSTRY NEWS


At € 537 (€ 605) million, Europe still accounted for the largest share of sales totaling € 1.17 billion in fiscal year 2016. Sales in China remained stable at € 299 (€ 299) million. Schuler’s business in North America made strong progress with increased sales of € 267 (€ 190) million. The number of Group employees rose to 6,617 (5,176) as of December 31. This figure includes 1,011 employees of Yadon and 628 of AWEBA.


Equity base remains comfortable Against the backdrop of its positive earnings trend, Schuler – in which the Austrian ANDRITZ Group holds 95 percent of capital stock – was able to make further improvements to its capital base. Shareholders’ equity rose to € 438.4 (€ 369.1) million. As the balance sheet total grew more strongly due to the acquisition of Yadon and AWEBA, the equity


ratio fell slightly to 32.2 (34.3) percent. However, this is still the second-highest level since the IPO in 1999. “Our capital and liquidity resources provide the necessary stable foundation for us to finance further organic and external growth as required,” stated CFO Norbert Broger. Schuler raised capital


expenditures once again to € 45.8 (€ 38.2) million in 2016. The soon-to-be-


completed technological center in Göppingen, the Schuler Innovation Tower, accounted for around half of this amount. Further focus areas for investment were IT and digitization. At € 116.3 (€ 281.3) million, net financial status (liquid funds less financial debt) was well below the prior- year figure. This is due to cash outflows for the successful acquisition of AWEBA and Yadon.


ММК completes reconstruction of sulphur capture systems


OJSC Magnitogorsk Iron and Steel Works (“MMK”) today announces that it has completed reconstruction of sulphur capture systems (SCS) designed for removing sulphur compounds and fine dust from sinter gases at the second sinter plant. The reconstruction included construction of a complex of


10 IMT March 2017


dust and gas capturing units, which processes the full volume of sinter gases removing sulphur compounds and fine dust. The complex includes three cleaning systems, each comprising high- efficiency equipment – electric filter and scrubber/absorber (with 10m diameter and 30m height) with three-tier sprinkling


system which disperses absorbing solution. The SCS at the second sinter plant has degree of purification of up to 95% for sulphur dioxide. The first three capture systems were launched in 2015 and 2016. In the late February 2017, the final stage of the underground channel reconstruction (designed


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to transfer all sinter gases from the second sinter plant to SCSs for clean-up) was completed. The total investment into the project was RUB 3,814 mln. In 2016, air emissions were reduced by 3,522 tonnes. Since the launch of the project, total reduction in air pollutant emissions amounted to 24,750 tonnes.


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