SCM Group says it has fully lost control over all of its assets in the breakaway parts of Donbas.
“SCM Group hereby states that as of today, March 15, 2017, is not in control of its assets located in the territories of the Donetsk and Luhansk regions, temporarily not controlled [by the central government],” SCM said on its website on March 15.
The statement lists the assets: in the mining and metallurgical sector (Metinvest) these are Yenakiyeve Metallurgival Private Joint Stock Company (PJSC) Yenakiieve Steel (including its Makiivka branch, PJSC Makiivka Iron and Steel Works), PJSC Yenakiieve Coke, PJSC Khartsyzk Pipe, PJSC Komsomolske Flux, PJSC Krasnodon Coal, PJSC Donetsk Coke and the Ukrainian-Swiss joint venture Metalen Limited Liability Company.
In the energy sector (DTEK): PJSC DTEK Komsomolets Donbasu mine, Mospynske coal processing enterprise, PJSC DTEK Energougol ENE, DTEK Vostokenergo, DTEK Donetskoblenergo, Tekhrempostavka, DTEK Sverdlovantracit, DTEK Rovenkiantracit, Elektronaladka LLC, DTEK High Voltage Networks and DTEK Service LLC.
Real estate: Pushkin and Line 7 business centers
The industrial and raw-material sector (UMG): Dokuchaevsk Flux and Dolomite Complex.
As of today, the Group is unable to ensure operation of these assets under Ukrainian law, SCM said. “We had to make the decision to discontinue our operation in the areas of the Donetsk and Luhansk regions, which are temporarily not controlled by the Ukrainian government,” SCM said.
SCM is filing applications with Ukrainian law enforcement authorities regarding the seizure of its production enterprises and non-production assets, it said. SCM has already notified the State Fiscal Service, tax authorities and state funds of the loss of control over these assets.
“We will do whatever is possible, including by turning to Ukrainian and international courts, to see justice restored and our enterprises in the temporarily non-controlled territories resume operation within the law,” SCM said.
