LONDON and NEW YORK, February 20, 2012 /PRNewswire/ --
The SCM Group revealed the results of its investment activities for 2011, consolidated in course of preparations of the Group's financial and non-financial reports.
In 2011 SCM Group invested $1.9bn (excluding M&A) in organic development of its assets (in 2010 - $1.12bn). In particular, Metinvest and DTEK's investments in business development and modernisation amounted to $1,14bn and $0.56bn, respectively (excluding M&A). The SCM Group invested $0.21bn (excluding M&A) in the development of non-industrial businesses.
Total investment of the SCM Group in environmental protection, health and safety and development of local communities exceeded $0.63bn, including $0.38bn - in environmental protection and social programmes for development of regions of operation ($0.29bn in 2010), and $0.18bn - in health and safety (almost twice as much compared with $0.1bn in 2010).
"Our investment focus on development of the Group's businesses and local communities remains unchanged. In 2011 we increased the total investment in modernisation, environmental protection, social programmes for regions of our operation, health and safety by 70%. We hope that in 2012 the market trends will allow for maintaining positive momentum in our investment activities," noted Oleg Popov, CEO of SCM.
System Capital Management (SCM) is a professional investor, the managing company of the biggest Ukrainian financial and industrial group focusing on three business areas: mining and metals, power generation and distribution and finance. The company also operates in other sectors including telecommunications, media, real estate, retail, clay production, petroleum products trade, agriculture, pharmaceuticals trade, heavy engineering and transportation.
The SCM Group comprises Metinvest and DTEK, First Ukrainian International Bank and Renaissance Capital Bank, ASKA and ASKA-Life insurance companies, Vega Telecommunications Group, Ukraina Media Group and Segodnya Multimedia publishing holding, ESTA Holding (real estate), Ukrainskiy Retail (retail), UMG (clay production), Parallel (petroleum products operator), HarvEast (agriculture), Ukrainian Pharmacy Holding, Mining Machines heavy engineering holding, Portinvest transportation holding and others.
Chief Executive Officer: Oleg Popov.
SCM is 100% owned by businessman Rinat Akhmetov.
Corporate website: http://www.scmholding.com
SOURCE System Capital Management