The head of the so-called Donetsk People’s Republic Zakharchenko has decided to temporarily administrate the Donetsk Electrometallurgical Plant and create Yuzovka Iron and Steel Works on its basis, with all DEMZ assets given to the new company.
Now Mechel faces the risk of losing control over DEMZ. The company is studying the situation and will take measures to protect its interests according to the legislation.
This will not affect financial results of DEMZ, as the works was shut down in 2012. (Ukrainian metal)