IZ-KARTEX Achieves Record Revenues and Profits in 2018

IZ-KARTEX showed brilliant results in 2018: budget targets have been exceeded. The total revenue in 2018 exceeded the total revenue in 2017 almost for one-and-a-half times. This is the absolute record for the last 25 years as 2018 profits exceeded net profit of 2017 twofold.

In 2018, IZ-KARTEX manufactured 31 shovels; seven of them have been supplied to the customers ahead of schedule. In 2019, IZ-KARTEX plans to supply 37 shovels. This is the great success for the enterprise and the strong contribution to domestic shovel manufacturing.

The cooperation of IZ-KARTEX and Navoi Mining and Metallurgical Combinat (Uzbekistan) started 25 years ago. This cooperation is successfully increasing. Nowadays IZ-KARTEX continues to manufacture nine EKG-20K shovels for this MMC under the contract signed in autumn 2017.

In 2018, IZ-KARTEX has manufactured and supplied 13 shovels to the Uzbek customers under the contract signed in April 2017.

In 2018, there was an active cooperation with JSC Karelsky Okatysh. Since 1980, totally 63 shovels made by IZ-KARTEX have been supplied at JSC Karelsky Okatysh. Last year the first EKG-15M shovel was commissioned at this enterprise. At the same time in 2018, IZ-KARTEX signed the contract for three EKG-15M shovels with delivery time in 2019.

IZ-KARTEX proceeded the cooperation with PJSC Magnitogorsk Iron and Steel Works. In May 2018, the EKG-10 shovel started working at the PJSC Magnitogorsk Iron and Steel Works. This is the first IZ-KARTEX shovel at the PJSC Magnitogorsk Iron and Steel Works for the last 25 years.

Due to the increasing of manufacturing volume, the new equipment was installed in 2018 – two turning and rotary Hyundai Wia LV2000MM machines and two turning and milling processing Hyundai Wia L700LMA centers.

Result summary of Q1 2019

IZ-KARTEX has successfully completed the planned operational results in the first quarter of 2019. The total sales volume in the 1st quarter of 2019 exceeded the total sales volume in the 1st quarter of 2018 for one-and-a-half times.

IZ-KARTEX resumed the cooperation with Erdenet Mining Corporation (Mongolia).  The EKG-12K was manufactured for Erdenet in the Q1 2019. This is the first machine of this model and the first IZ-KARTEX supply to Mongolia for the last five years. Earlier eight shovels were supplied to Mongolia.

The cooperation of IZ-KARTEX and Navoi Mining and Metallurgical Combinat (Uzbekistan) successfully continues. Nowadays IZ-KARTEX continues to manufacture EKG-20K shovels for this MMC under the contract signed in autumn 2017. The second supplied EKG-20K shovel was commissioned at Navoi MMC on January 17, 2019. The third and the fourth machines were dispatched to the customer in the first quarter of 2019.

On January 5, 2019 and February 8 2019, two EKG-15M started working at Almalyc MMC.

In March 2019, two IZ-KARTEX shovels were commissioned: the EKG-12K shovel at Stoilensky GOK (NLMK Group) and the EKG-8US shovel at JSC Pavlovsk nerud.

In addition, IZ-KARTEX has manufactured and supplied two EKG-12K at JSC Siberian Anthracite in the Q1 2019.

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