Publication

UMG HOLDING TO RAISE MORE THAN $100 MLN IN FOREIGN INVESTMENTS FOR NEW BUSINESS AREAS BY 2021

UMG, which incorporates mineral extraction and processing assets of the SCM financial and industrial group, intends to raise more than $100m in foreign investments by 2021 to create new business areas.

28 January 2016

UMG Holding President Andrey Gorokhov announced on January 28 that these targets are set in the company’s 2021 Development Strategy.

Other key strategic plans include further development of existing businesses and achieving an annual turnover of more than $300m, though 2015 revenues were $164m.

Gorokhov added that five new business areas are to be launched in the commodities and related segments depending on market demand.

In 2007–2015, UMG invested a total of $82m and plans to invest $115m in 2016–2030 to support current production.

UMG is a diversified holding operating in the commodities, industrial, and trading spheres. It was founded in 2006 as a clay extraction business.

The Holding pursues three key lines: clay extraction, limestone and dolomite production, processing and sale of CHP by-products.

The Holding actively promotes new areas such as trading in mineral fertilizers, agricultural products, rare and technical gases.

UMG’s portfolio includes 10 projects at various stages of implementation.

UMG operates 16 quarries and 10 ash dumps.

The company has a workforce of about 4,000 people and its sales territory covers 30 countries worldwide.
The diversified SCM group holds a 100% stake in UMG’s authorized capital.