Russian Federation becomes owner of the ChEMK Industrial Group - register
CHELYABINSK. March 14 (Interfax) - The Russian Federal Property Agency, acting on behalf of the Russian Federation, is now the owner of 100% of the capital of JSC Chelyabinsk Electrometallurgical Plant (ChEMK), the flagship enterprise of ChEMK Industrial Group, which is a major ferroalloy producer, according to the Unified State Register of Legal Entities.
The corresponding entry to the register was made on March 13.
ChEMK's authorized capital is 11.911 billion rubles.
The Sverdlovsk Region Arbitration Court on February 26 granted a suit filed by the Russian Prosecutor General's Office against the former co-owners of ChEMK Industrial Group, Yury Antipov and his wife Lyudmila and JSC Etalon Company [through which they owned the group's assets], to expropriate shares in three group enterprises: JSC Chelyabinsk Electrometallurgical Plant, JSC Serov Ferroalloys and JSC Kuznetsk Ferroalloys. The dispute, according to ChEMK, concerned the corporatization of enterprises and their transfer to private ownership. The case was heard behind closed doors.
The Federal Property Agency, acting on behalf of the Russian Federation, is now also the owner of Serov Ferroalloys and Kuznetsk Ferroalloys. The Unified State Register of Legal Entities was amended to reflect this on March 14. ChEMK is named as the entity empowered with full authority to act on behalf of the two plants.
The court ordered an injunction when considering the claim to seize the group's plants, freezing real estate and movable property as well as shares in the three plants.
Following the ruling by court of first instance, the Antipovs and Etalon Company filed appeals, the nature of which as not disclosed, with the Sverdlovsk Region Arbitration Court.
Etalon Company also contested the refusal to transfer the case to a court of another jurisdiction. This appeal was filed with the 17th Arbitration Court of Appeal, and its hearing has been postponed until March 27.
ChEMK Industrial Group includes the three ferroalloy plants as well as LLC Katav-Ivanovo Foundry in the Chelyabinsk region, which makes machinery and equipment for metallurgy, and LLC Metaglomerat in the Chelyabinsk region, which mines and processes iron ore.
In addition, the group includes a loading and transshipment complex with the status of a seaport in Vladivostok; a division that develops the Tsentralnoye chromite ore deposit in the Yamalo-Nenets Autonomous District; and the Marganets Komi division in the Republic of Komi, which develops manganese ore deposits.
ChEMK, according to the Unified State Register of Legal Entities, owns 14.01% of LLC Kopeisk Brick Works, part of the Furbau group of companies which is a large brick manufacturer in the Urals and Siberia.