JSC “United Mining and Chemical Company” has begun work on signing the new contracts

JSC “United Mining and Chemical Company” has begun the process of concluding new contracts with counterparties for the company's products supply at the market prices on a prepaid basis.

JSC “UMCC”is going to sign new contracts exceptionally with the verified contractors, whohaven't been related with any corruption schemes. Despite the global economic crisis caused by the Covid-19 and the quarantine measures implementation, new contracts for the UMCC products sale will be concluded on favorable terms in the range of average and above average market prices. None of UMCC's counterparties will have a privileged status or the right of exclusivity. The transparency increasing of UMCC's financial activity will create preconditions for the increasing of investment attractiveness of the company in the lead-up of preparation for privatization.

“Now, JSC “UMCC” is concluding the contracts with counterparties directly, with the primary condition of cooperation on a prepaid basis, without the possibility of deferred payments” - said Tetiana Hohenko, a member of the board of JSC "UMCC".

Reference

JSC “United Mining and Chemical Company” is a state-owned company, one of the world's biggest producers of titanium raw materials. In 2018, the company's net profit amounted to 114.9 million UAH, the value of assets - 3.4 billion UAH. The structure of "UMCC" includes Vilnohirsk Mining and Metallurgical Combine and Irshansk Mining and Concentration Combine.

* All information on the UMCC activities will be temporarily published on the official website of the State Property Fund of Ukraine, as access to the company's website and the official Facebook page of the UMCC has been blocked by the former management.