Stirol has a “secret” Ukrainian investor

OJSC Concern Stirol, from Horlivka, Donetsk region, attracted a Ukrainian investor, though he will only be identified within a month or month-and-half’s time due to confidentiality requirements, said chairman of the group Serhii Pavliuchuk at a Horlivka city council session. “Firstly, I reject all the gossip about the company being sold out or something. So, I’d say this: a new investor is coming to the concern, and he is Ukrainian,” Pavliuchuk said. The chairman did not specify how large a stake would be purchased by the new shareholder, as well as which old shareholders would stay among the plant’s owners and which of them would sell their shares. He also announced that the company was coming out of the crisis, stressing that in June they had undertook an overhaul of the ammonia operation, while modernizing other operations, including urea production. According to Pavliuchuk, the ammonia and ammonium nitrate operations, which have been idle for about a year, would be working by November this year (the date is tentative). “By the year’s end, we will retake our leading position,” he predicted.