The arbitrary court of the Sverdlovsk region will decide on announcing the Alapayevsk Iron and Steel Works insolvent.
A respective claim was submitted on January 22 by an individual claiming 1.191 billion rubles from the company.
Alapayevsk Iron and Steel Works has been operating since the 18th century and specializes in the manufacture of blast ferromanganese and pig iron.
Several years ago it was purchased by Novaem from Privat (Ukraine), but new owners were not able to make it profitable. In spring of 2015 the manufacture at the works was suspended. (Ukrainian metal)