The second largest nickel manufacturer in Russia – Ufaleinickel – will stop operating.
On August 7 the company shareholders voted for the liquidation of the enterprise.
According to Ufaleinickel representative Olga Markina, the process will be long.
The board of directors is still looking for investors, but so far there have been no agreements.
As of late 2016 Ufaleinickel debts amounted to 15.5 billion rubles, with its earnings at 6.3 billion rubles and net loss of 11 billion rubles. (Ukrainian metal)