SKOPJE (Macedonia), October 31 (SeeNews) – Macedonian steel mill Makstil [MSE:STIL] said it halted operations of its steelworks unit on Friday due to the installation of a new filtration equipment aimed at meeting European Union environment-protection standards.
The steelworks unit will be back on stream early next year, following the hot and cold trials to be conducted between mid-December and mid-January 2015, Makstil said in a statement sent to SeeNews.
Makstil’s general director Ivan Banovski told SeeNews earlier this year that the new dust collection system will cost 10 million euro ($12.6 million) and will be financed with long-term bank loans.
Makstil also said that the operations of its second unit, the hot rolling mill, will continue uninterrupted.
The biggest shareholder in Makstil is Duferco Skop Investment Ltd, with a 62% stake, followed by Cyprus-registered Minyork Overseas Ltd, which holds a stake of 19%, both part of international Duferco Group.
($=0.7938 euro)