The State Property Fund of Ukraine plans to put the 68.0095% stake of Zaporozhye Aluminum Works up for an auction in September.
The privatization of the company will be carried out on the competition basis with open offers.
The decision to return 68% of ZALK to the state was taken in May 2011 by the Kiev Commercial Court of Appeals following the non-payment of Rusal while buying the asset.
According to ZALK management, Rusal was destroying the Ukrainian competitor on the aluminum market by disassembling its machinery and selling it at low prices.
ZALK used to produce 100 thousand tons of aluminum per year and was the only Ukrainian producer of primary aluminum.
In particular, in 2007 it produced 112 thousand tons of aluminum, in 2008 – 112.847 thousand tons, in 2009 – 50 thousand tons, in 2010 – 25 thousand tons. (Ukrainian metal)
