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December 9, 2022
BUSINESS

Mechel Targoviste files for insolvency

PM Ponta pledges to support a new investor that will save the smelters.


The metallurgical plant Mechel Targoviste (COS) yesterday filed for insolvency, in a case registered with the Dambovita Tribunal, Mediafax informs. “We want the emphasise that this is meant to protect the interests of the company and relaunch the activity on sound bases, under a reorganisation plan which we are convinced will result in the recovery of the company. With support from Invest Nikarom, the company that indirectly holds the majority stake, efforts will be made to restart the activity at Mechel Targoviste in conditions of economic efficiency,” reads a communiqué sent by the company to the stock exchange.Premier Victor Ponta yesterday pledged the government’s support for any new investor that will save the Romanian smelters operated by Mechel, but added that the Executive may not intervene in this situation, as this is a private company, Mediafax reports. During a visit to UBB Cluj, when he was asked to comment the situation created by Mechel’s sale of its Romanian assets, the premier answered that the company terminated its operations not just in Romania, but in 12 countries. “We will do everything the Romanian state can do to support a new investor, but this is a private investment. I verified if all the conditions set through the privatisation were observed, and they were, and the crisis experienced by the company is a reality which neither us, nor other European countries could counter otherwise,” Ponta mentioned.

Invest Nikarom, the firm controlled by two Russians

Invest Nikarom, the company that purchased the four plants operated by Mechel in Romania against just RON 230 (EUR 52) is controlled by two Russian citizens and had, at the end of 2011, three employees, a turnover of EUR 344,000, debts of EUR 94,000 and losses of EUR 29,000, ‘Adevarul’ reports.  According to data provided by the Registry of Commerce (RC), Invest Nikarom is a Romanian company with a social capital of RON 100,000.The company, headquartered in Bucharest, was registered at RC in 1993 and has as activity object the wholesale trading of machines and equipment.Invest Nikarom has as associates, in equal shares, Chumakova Svetlana (55) and Chumakov Victor (58), both being Russian citizens. It has a subscribed social capital of RON 99,979 (EUR 22,700). Invest Nikarom appears on a list published in January by the government, with persons and firms that occupy spaces in buildings owned by RA-APPS.Market sources said that the Russians of Mechel want to liquidate their businesses in Romania, because Italian investors expressed some time ago the intention to buy the assets.In 2004, Invest Nikarom represented in Romania the Lithuanian holding Aviabaltika – a company controlled by Yuri Borisov, a Russian businessman suspected of having connections with the Russian secret services, bursa.ro reports. Aviabaltika owns the Russian company Sparc, which repairs helicopters. In Romania, through Victor Chumakov, Sparc equipped the helicopters of the Ministry of Interior, accord to bursa.ro. Local newspapers reported, years ago, that Invest Nikarom was designated as winner of the contract for decommissioning Block no. 8 of CE Turceni and the press speculated, at that time, that the representative of the Bucharest-based firm was a Lithuanian citizen – the agent of the companies of Dan Voiculescu, recommended by the minister of those years, Codrut Seres.

 

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