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8.5% volume increase planned at DTEK’s OAO Pavlogradugol

Tuesday, May 19th, 2009

DTEK, the Ukrainian fuel and energy sector leader, is pleased to announe its plans to increase 2009 coal production at OAO Pavlogradugol’s by 8.5% from 13.5 to 14.65 million tonnes.
This decision was made by DTEK’s management and announced at a meeting attended by Maxim Timchenko, CEO of DTEK, and the group’s stakeholders, including the Dnepropetrovsk trade union of coal production representatives, the Regional Association of Independent Trade Unions of Ukraine and East Donbass miners. At the meeting, OAO Pavlogradugol’s 2009 work programme was presented to and carefully examined by the delegates.
The new business plan for 2009 takes into consideration the possible risks incurred by the global financial crisis, including a sudden decrease in demand from domestic enterprises; a decrease in demand for coking or steam coal; levels of consumer settlements and hryvnia devaluation among other factors. Maxim Timchenko, CEO of DTEK, said:
“Because of DTEK’s carefully chosen strategies, we are able to maintain a stable position in all of our enterprises. The Company continues to strengthen its position as a leader in Ukraine’s fuel and energy markets and we have decided to increase the planned 2009 figures for Pavlogradugol. In light of this, a number of Pavlogradugol’s employees will be able to return to full time work.”
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