19 March 2013 Chemical Sector. Titanium

Dmitry Firtash: Ukraine Can Become the Top-three Global Player on the Titanium Market

Modernization of Zaporizhya Titanium and Magnesium Combine capacity will strengthen Ukraine’s positions on the global titanium markets. The news was announced by Chairman of the Group Supervisory Council of Group DF Dmitry Firtash during his visit to combine.
 
“Titanium is the future of the global industry. Ukraine has a huge potential and can become a top-three global player on the titanium market”, – said Dmitry Firtash.  
 
The Chairman of the Group DF Supervisory Council emphasized that investments in ZTMC were part of Group DF’s USD 2.5 bln titanium sector development program.
 
“This program also includes significant investments into titanium mining, titanium sponge and titanium slag production, and titanium dioxide production. We’ve developed investment programs for other producers, and investments will be implemented on all titanium assets. We have ambitions, strategy, resources, people and expertise to build a globally competitive holding. Only through these efforts Ukraine’s titanium industry can compete on the global markets”, – said Dmitry Firtash.
 
According to the businessman, Zaporizhya Titanium and Magnesium Combine modernization program has been designed for 4-5 years, during which about USD 700 mln will be invested in the enterprise. Investment program envisages construction of two new productions. The reconstruction will raise ZTMK titanium slag outputs 3.5 times – up to 150 thousand tons per year, titanium sponge outputs 4 times – up to 40 thousand tons per year.
 
Group DF expects that ZTMK modernization will increase Ukraine’s share in the global titanium slag production from the current 0.66 percent to 4 percent, and share in the global titanium sponge production from the current 5 percent to 14 percent.
 
Dmitry Firtash emphasized that Ukraine could become a leader in the international titanium market if the industry grew at a rapid pace.
 
“For example, China started developing its titanium program only 10 years ago, but now it controls about one third of the global titanium sponge market. Had a private investor come to ZTMC earlier, today Ukraine could have also been a major global player”, – added The Chairman of the Group DF Supervisory Council.