Zaporizhzhia Titanium-Magnesium Plant (ZTMP) showed the first results of the program of financial recovery

The State Property Fund of Ukraine manages state-owned interest of Zaporizhzhia Titanium-Magnesium Plant LLC. Since December 2020, it operates without delays in salary payments.  At the same time, at the end of January 2021, ZTMP LLC began purchasing electricity from NNEGC Energoatom on the Ukrainian Energy Exchange. This is a factor in reducing the cost of production at the plant and part of the financial recovery plan.

Full payment of salary arrears and contracts with Energoatom are part of the program of financial recovery of ZTMP LLC, developed by the new enterprise management.

Restoration of the production potential of ZTMP LLC and preventing the factory from returning to the practice of non-payment of electricity bills are the priorities of the State Property Fund in the corporate governance policy. The program of financial recovery and modernization of ZTMP LLC expects setting into operation of new equipment in the II and III quarters of 2021, and as a result, increasing production volumes and reaching break-even point.

“ZTMP LLC gradually began to emerge from the crisis. The plant settled its salary arrears, resumed rhythmic production and sales, which allows it to pay salaries on time and in full. The full implementation of the ZTMP LLC financial recovery program will allow the plant to become one of the drivers of economic growth in the Zaporizhzhia region,” the press service of the State Property Fund of Ukraine said.