Ukrainian Govt to Prevent Ilyich Plant from Corporate Raid
OREANDA-NEWS. June 21, 2010. The Government supports the employees and the Board Chairman of the Mariupol Metallurgical Integrated Plant named after Ilyich and will not allow raiders to take over one of the flagships of Ukrainian metallurgy. Prime Minister of Ukraine Mykola Azarov said this at a meeting with Board Chairman of the Plant Volodymyr Boiko.
The Chairman of the Plant informed the Head of the Government about an attempt of illegal takeover of the mill, flat protest against this by the staff and expressed confidence that the Government would provide legal protection for the legitimate owners and the normal operation of one of the largest domestic metallurgical plants. Also, Volodymyr Boiko reported that plant’s management is looking for economically viable solution on assets consolidation to provide the raw material base and effective products marketing, restore financial stability of the enterprise.
Mykola Azarov said that the Cabinet of Ministers certainly protects the legitimate rights and interests of the domestic producer.
"I know about the situation at the plant, the Government's position on this issue is clear: we are on the side of the employees, the CEO and will never allow any corporate raids of the enterprise which is known throughout the country and over the world", he said.
The Prime Minister also promised that the Government will find solution to the problem of postponing or spreading plant’s payments for gas and the problem of VAT refund by using the state budget.
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