The Priportovy Plant of Odessa stays to be a state property
Nov 15, 2004
According to the State Property Fund of the Ukraine, the Ukrainian cabinet decided that the Priportovy Plant of Odessa would remain to be unprivatized until 2006.
In June 2004, the State Property Fund of the Ukraine transformed the enterprise into a JSC with the authorized capital of Euro 115m. The State Property Fund planned to put up for auction a 94.54% shareholding in Priportovy in August (reported by rccnews.ru). However, president of the Ukraine, Leonid Kuchma, suspended the privatization of the plant taking into account speculations on the privatization processes ?on the eve of the presidential elections scheduled for October-November.
Currently, about 88% of the product of the plant is exported abroad.
