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…
The government of Ukraine has ordered to privatize 68.0095% of shares of the Zaporozhye Aluminum Works, 75.224% of Turboatom and 99.999% of Oriana. According to the government order, the stakes in the above companies will have to be sold on transparent auctions by November 30, 2017. (Ukrainian metal)
In January-September Zaporozhye Aluminum Works, the sole primary aluminum producer in Ukraine, received 527.33 million UAH of losses, down 2.5 times, or by 809.55 million UAH YoY. According to the company statement, its net income totaled 1 million UAH (no income in January-September 2015). In Q3 ZALK received 245.74 million UAH of losses. (Ukrainian metal)
Russian aluminum giant UC RUSAL has filed a suit to the International Center for Settlement of Investment Disputes (ICSID) demanding Ukraine to redeem the company’s investment in Zaporozhye Aluminum Complex, a RUSAL representative reported. “Affiliates of RUSAL have turned to the ICSID with a request to compensate for the investment in Zaporozhye Aluminum Works. The…
Zaporozhye Aluminum Works is still idle after a short period of work from August 31, till September 19. But it can resume manufacture of rolled wire in November if it is able to buy aluminum. According to a company representative, ZALK is negotiating purchases from China. “Chinese aluminum in Odessa ports could cost $200 per…
Shareholders of the Zaporozhye Aluminum Works have replaced 2 of the 7 members of the supervisory board. According to the company statement, in particular, Alexei Arnautov and Yana Tikhonova have been dismissed with Vitaly Denisenko and Tatiana Kuzub appointed instead. Svetlana Bezverkhaya, Anastasia Mankovskaya, Natalia Pavliuk, Natalia Kharina and Irina Lepyavko have been reelected. The…
The Higher Commercial Court has returned the Zaporozhye Aluminum Works to the state property. In February 2011 the State Property Fund of Ukraine concluded a purchasing agreement of ZALK shares with AvtoVAZ-Invest, according to which the buyer had to pay the share price and clear all debts to the State Export-Import Bank of Ukraine valued…
The State Property Fund has compiled a list of state assets for privatization and is busy working out its terms. In particular Zaporozhye Aluminum Works and Zaporozhye Titanium and Magnesium Works are among companies to be privatized in 2016. (Ukrainian metal)
