Industrial Union of Donbas (ISD) Corporation has officially announced the actual loss of effective managerial control over its production assets (industrial sites and office premises in Alchevsk, Luhansk region), including PJSC Alchevsk Iron and Steel Works, PJSC Alchevsk Coke and Chemical Plant (Alchevskkoks) and PJSC Ecoenergy, which together constitute a significant part of the ISD Group business, and over office premises.
According to the ISD official statement, ISD Corporation, acting in the interests of and on behalf of its subsidiaries PJSC Alchevsk Iron and Steel Works, Alchevsk Coke and Chemical Plant and PJSC Ecoenergy, is forced to make the following statement.
“Over the past few months, the management of PJSC Alchevsk Iron and Steel Works, Alchevsk Coke and Chemical Plant, PJSC Ecoenergy and ISD Corporation have done their best to maintain effective management control over the industrial site where the production assets of these enterprises are located in the city of Alchevsk, Luhansk region. To our deep regret, today we are forced to state the fact that de facto the management and shareholders of ISD Corporation have lost effective management control over the Alchevsk production assets and office premises,” the report states. (Interfax-Ukraine/Ukrainian metal)