Industrial Union of Donbas Corporation (ISD) has officially reported on a significant risk of losing effective managerial control over the production assets (industrial sites and office premises in Alchevsk, Luhansk region), including PJSC Alchevsk Iron and Steel Works, PJSC Alchevsk Coke Chemical Plant (Alchevskkoks) and PJSC Ecoenergy, which together constitute a significant part of the ISD Group business.
The report says ISD Corporation, acting in the interests of and on behalf of its subsidiaries PJSC Alchevsk Iron and Steel Works, Alchevskkoks and PJSC Ecoenergy, in the current situation as of November 29, is forced to make a statement.
“The shareholders and the management of ISD Group are making every effort to maintain control over the production assets. However, in the current situation, the shareholders and the management cannot reliably and responsibly forecast a further development of events and the possibility of maintaining effective management control over the assets in Alchevsk, which is located on the territory that is temporarily not controlled by the state authorities of Ukraine,” reads the statement signed by ISD Corporation CEO Oleh Mkrtchan. (Interfax-Ukraine/Ukrainian metal)