Metinvest Group announces loss of control over operations in temporarily non-controlled territory of Ukraine
As of March 15, 2017 Metinvest Group lost control over its entities and property of Yenakiieve Iron and Steel Works (EMZ) in the non-controlled territory.
Unidentified people who called themselves representatives of the so-called Donetsk People’s Republic (DPR) entered administrative buildings of EMZ. They demanded that the taxes are paid to the budget of the DPR and all property is transferred to them. The above people stated that should their requirements be not met, legal and physical actions will be applied against EMZ management and workers.
Given the impossibility to fulfil the requirements set, EMZ management was forced to completely stop economic operations in the non-controlled territory and leave the property there. As of today, assets and property of EMZ are illegally used by unidentified people.
The enterprise management makes every effort possible to restore the rights of both the enterprise and the people, and stop the illegal use of their property in the non-controlled territory.