Ukraine sells factory confiscated from russian oligarch

This is stated in the fund's announcement.

The starting price for 93% of the authorised capital of the Kalush Pipe Plant is UAH 139.696 million (excluding VAT).

The Kalush Pipe Plant has a production capacity of over 25,000 tonnes of plastic pipes per year.

The starting price for 93% of the authorised capital of the managing company Eurotubplast is UAH 54.247 million (excluding VAT).

The conditions for the sale of these enterprises include: repayment of wage and budget debts within six months and no layoffs for six months.

The proceeds from the privatisation of nationalised assets will go to the Fund for the Elimination of the Consequences of Armed Aggression.

‘Previously, the companies Eurotubplast Trading House LLC and Kalush Pipe Plant LLC belonged to russian oligarch Miron Gorilovsky and his partners,’ the statement said. ‘In accordance with the decision of the High Anti-Corruption Court, the assets were seized as state revenue and are currently managed by the State Property Fund.’

As reported, on 22 November 2024, the Appeals Chamber of the High Anti-Corruption Court upheld the previous decision of this court, which confiscated Ukrainian assets belonging to the russian group Polyplastic, owned by Miron Gorilovsky and his business partners Valentin Buyanovsky and Andriy Menshov, in favour of the state.

The Polyplastic Group is a large industrial conglomerate specialising in the production of high-tech polymer pipes and composite polymer materials. It has a research and development base for conducting research and development in the field of composite polymers, which have a wide range of applications, ranging from the production of polymer pipes to the manufacture of small arms components, according to the Ministry of Justice of Ukraine.

The Ministry of Industry and Trade of the russian federation has included the Polyplastic Group in the list of organisations that have a significant impact on industry and trade in the russian federation.

Source: NV