The State Property Fund of Ukraine renewed the Board of JSC “United Mining and Chemical Company”

As part of the continued policy of improving the staff and finance situation at the state enterprises in order to prepare them for competitive privatization contests, on May, 19, 2020, the State Property Fund of Ukraine updated the Board of JSC “United Mining and Chemical Company” (UMCC).

The new Board of UMCC includes: Tetiana Hohenko (ChiefofCommerceandSales), Yurii Kyiashko (Chief Financial Officer), Yurii Solovei (Chief of the Security Service), Leonid Bortnichuk (Chief of the Legal Service), Artur Somov (Deputy Chairman).

From April, 8, 2020, the temporarily acting Chairman of the Board of UMCC is Peter Davis, having a 29 years of managerial experience in large international corporations, including Cable & Wireless Plc (United Kingdom), Glencore AG (Switzerland), Central European Media Enterprises (USA).

“The State Property Fund of Ukraine continues the systematic work on the state enterprises personnel reloading and corruption schemes elimination in public sector. The task of the new Board of UMCC is to improve its financial and production indicators, as well as to qualitatively prepare company for the transparent and competitive privatization, which will attract a strategic investor. As of today, more than ten of foreign investors are interested in UMCC, ready to invest in its modernization and to bring company to a new level”, - the Deputy Head of the SPFU Serhii Ihnatovskyi notes.

According to Peter Davis, the new management of UMCC considers the possibility of acquiring new licenses for minerals mining to expand production activities and increase company capitalization as part of preparation for privatization.

“The new professional team involved in the UMCC management, has a long-term experience in big companies’ management and is focused on improving the operational activities of the enterprise. Our task is to develop and implement program of the enterprise’s development as well as to provide all preparatory works for the privatization, which should be held immediately after the situation is stabilized in the financial markets”, - Peter Davis stated.

Reference

JSC “United Mining and Chemical Company” is one of the largest rutile and zirconium concentrates miners in the world. UMCC was established in 2014 by joiningVilnohirsk Mining and Metallurgical Plant and Irshansk Mining and Processing Plant.

*All information concerning the activities of JSC “UMCC” temporarily will be published on the State Property Fund of Ukraine’s official website since access to the company’s website and its official Facebook page is blocked by former management.