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Titanium industry in Ukraine began the process of readjustment to the PSC Sumykhimprom

Sumy Economic Court began the process of reorganization of Public Joint Stock Company «Sumykhimprom» — one of the Ukrainian companies working in the market of titanium dioxide. The procedure, which will monitor the Chairman of the Board of PJSC — Igor Lazakovich — lasts 1 calendar year. At this time, the manager of the organization's assets will be appointed by the court manager — Roman Marchenko.

Recall: the question of bankruptcy PJSC «Sumykhimprom» was raised back in October of last year — the enterprise has accumulated a large debt to creditors. Later, the company own several improved financial and operational performance, but to repay the debt of the company management does not hurry. Consequently, the Economic Court of the city of Sumy (not without initiative deprived creditors) in the 20 days of February this year returned to the question of the need for the bankruptcy process. Later — in July 2012 — The Cabinet of Ministers ordered the GAC on UGKPI the transfer of the securities portfolio of the holding company «Titan of Ukraine» (which, together with PJSC «Crimean Titan» was part of PJSC «Sumykhimprom») in the State Property Fund for the sale of state stake within the MCC assets to private investors.

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