Ferrexpo PLC Increase in Humanitarian Fund to US$12.5 Million (8211I)
21 4월 2022 - 3:01PM
UK Regulatory
TIDMFXPO
RNS Number : 8211I
Ferrexpo PLC
21 April 2022
21 April 2022
Ferrexpo plc
("Ferrexpo" or the "Company" or the "Group")
Increase in Funding for Ferrexpo Humanitarian Fund to US$12.5
Million
Ferrexpo plc (LSE: FXPO), the world's third largest exporter of
high grade iron ore pellets to the global steel industry, with
operations in central Ukraine, announces that the Board of
Directors ("Board") has approved an increase in the level of
funding for the Ferrexpo Humanitarian Fund ("Fund") to US$12.5
million, representing an increase of US$5 million on the previously
announced total.
The decision to approve additional funding has been made to
ensure that the Group's management team is able to continue to
respond in an effective and timely manner as the humanitarian
crisis unfolds in Ukraine, with assistance being provided to
communities across the country.
More recent projects that the Group has assisted through the
Fund, as well as additional funding via the Group's operating
subsidiaries, have included the following:
-- Social support for communities: the purchase of power
generators, fuel, water tanks, and food supplies;
-- Medical support: purchasing of ambulances for hospitals, as
well as equipment for the treatment of wounds;
-- Support for refugees: renovation work and provision of
facilities in local communities that are being used for
accommodation;
-- Logistics support: assisting in the delivery of humanitarian
goods from Europe to Ukraine, and the relocation of animals from
zoological parks in eastern Ukraine; and
-- Supporting local authorities: the purchase of electronic
equipment to assist in documenting the damage being inflicted on
communities across Ukraine.
Jim North, CEO of Ferrexpo commented:
"Our efforts through our Humanitarian Fund are focused on
providing direct and relevant financial support to a number of
initiatives as we become aware of them, utilising our experience of
operating in Ukraine, and our wide and diverse business network to
source goods and services for those in need. The nature and scope
of the projects requiring assistance varies from day to day, and we
are proud to be able to support communities across Ukraine at this
difficult time."
For further information, please contact:
Ferrexpo:
Rob Simmons r.simmons@ferrexpo.ch +44 207 389 8305
Tavistock:
Jos Simson +44 207 920 3150
Gareth Tredway ferrexpo@tavistock.co.uk +44 7785 974 264
About Ferrexpo:
Ferrexpo is a Swiss headquartered iron ore company with assets
in Ukraine and a premium listing on the London Stock Exchange in
the FTSE 250 index (ticker FXPO). The Group produces high grade
iron ore pellets, which are a premium product for the global steel
industry and enable reduced carbon emissions and increased
productivity for steelmakers when the Group's iron ore pellets are
converted into steel, compared to more commonly traded forms of
iron ore. Ferrexpo's operations have been supplying the global
steel industry for over 40 years and in 2021 the Group produced
11.2 million tonnes of iron ore pellets, placing Ferrexpo as the
world's 3(rd) largest exporter of pellets to the global steel
industry with a market share of approximately 9%. The Group has a
global customer base comprising of premium steel mills around the
world, which includes steel mills in Austria, Germany, Japan, South
Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam
and America. For further information, please visit www.ferrexpo.com
.
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END
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April 21, 2022 02:01 ET (06:01 GMT)
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