Ukraine: BNY Mellon to cancel agreement with Interpipe
The Bank of New York Mellon Corporation (USA) plans to cancel its depository agreement with Interpipe NTZ.
The Bank of New York Mellon Corporation (USA) plans to cancel its depository agreement with Interpipe NTZ.
The supervisory board of Interpipe Dniepropetrovsk Vtormet has dismissed Olga Korotkova from the office of the chairman, and appointed Gennady Shevchenko acting chairman of the board.
Interpipe works have prepaid Naftogaz Ukrainy 23.5 million UAH for gas.
The Commercial Court of the Dniepropetrovsk region will consider a claim of Alfa-Bank to Interpipe Niko Tube as to the collection of 1.2 billion UAH of debts.
Beginning with October Interpipe raised salary for its employees by 10%. This is the second salary increase this year. The first was in April. In total wages increased by 20%.
Interpipe is working at 30-40% of its steel pipes capacities.
Interpipe could return to the Russian steel pipes market if the Rouble gets stronger and the prices increase.
Interpipe sees another rise of railroad tariffs as critical.