Date: 5 days ago   Category: Economy

The metallurgical complex in Volgograd will resume work next week - RIA Novosti, 11/9/2018

View of steel works Red October. Archival photo
VOLGOGRAD, 9 Nov — RIA Novosti. The Volgograd iron and steel works "Red October" which has been declared on Thursday by bankrupt and has suspended production, will resume work on November 13, the executive director of the enterprise Valery Yavetsky.© RIA Novosti / Konstantin Chalabov has told journalists the Government of the Volgograd region are ready to support bankrupt metallurgical complex "the Enterprise is stopped for technical reasons in connection with building of gas purification now, the contract organization works, on November 12 they stop work on preliminary installation of a roof of the plant, at partial overlapping one furnace will work (in the ESPTs No. 2 shop – an edition). For work of a condition is: metal is, ferroalloys are, contracts for supply of materials. Then we begin to roll metal, the package of orders will be created. Since November 13 we will begin to work in the usual mode" — Yavetsky has told journalists. The arbitration court of the Volgograd region on Thursday has made the decision on recognition of metallurgical complex Red October by insolvent (bankrupt) and introduction of bankruptcy proceedings for half a year because of debts for 600 million rubles. Earlier the representative of plant said RIA Novosti that the debt is repaid before the tax inspection and the main creditor — Zlatoust electrometallurgical the plant which has redeemed the rights requirements from other creditors. However at a court session about bankruptcy the specialist of UFNS in the Volgograd region has submitted documents on the available current debt for the sum of 130 million rubles on tax and insurance payments. According to FTS, besides, the uncovered loss in 2 billion rubles following the results of 2017 is found in plant, borrowed funds in 3 billion rubles, the general obligations of the enterprise have made more than 8 billion rubles. On Friday the arbitration has determined by the receiver of Sergey Harchenko. After decision of court about bankruptcy the enterprise has suspended production. The governor Andrei Bocharov has expressed during the meeting with staff of plant his support, the regional authorities are ready to pay a part of debts to suppliers, for salary and also to provide with orders the enterprise. Red October — one of the producers of metal rolling of special brands, largest in the Russian Federation, for the automotive and aviation industry. About 3,5 thousand people work at the enterprise.



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