The state enterprise United Mining and Chemical Company goes on exporting its products via Bollwerk Finanzierungs-und Industriemanagement AG, according to the data of ilmenite and titanium concentrate exports at Ukrainian ports.
In particular, Bollwerk is the supplier of UMCC products in the ports of Odessa and Ismail. In January-April UMCC exported 14 thousand tons of products valued at 225 million UAH via this Austrian company. That is 65% of the total UMCC export.
Since January 1, the National anti-corruption bureau has been investigating UMCC exports via its middleman – Bollwerk. In January-September 2015 the companies concluded 9 agreements and UMCC supplied 688 million UAH worth of products. According to the investigators, the price of the products supplied was 15-55% lower than that on the market. This shows that the officials of UMCC were interested in selling products to Bollwerk at lower prices.
At the same time UMCC says that sales to Bollwerk can be explained by pre-payment and difficult situation on the sales markets. (Ukrainian metal)