Perm “Metafrax Chemicals” was transferred to state ownership
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Today, the Arbitration Court of the Perm Territory satisfied the claim of the Prosecutor General’s Office of the Russian Federation to recognize the results of the privatization of Metafrax Chemicals JSC as illegal and to confiscate the company’s shares into state ownership. The court’s ruling took effect immediately.
The court agreed with the arguments of the supervisory authority that the events that happened 30 years ago do not constitute privatization, since this procedure could not be carried out in relation to the plant, which at that time was called GPO Methanol. The enterprise was not subject to privatization on the basis of the laws that existed at that time, since it produced poison – methanol. However, the then director of the chemical plant, Anatoly Ozhegov, illegally transferred the shares to the management of businessman Dmitry Rybolovlev in 1993. The consolidation of the company’s shares was completed only in 2021, so the statute of limitations does not apply.
Representatives of Metafrax Chemicals JSC petitioned for the court to obtain from the archive materials relevant to the consideration of the case and to postpone the process. The requests were denied. The company’s lawyers intend to appeal today’s ruling of the arbitration court to the appellate instance.
According to SPARK, the shareholders of Metafrax Chemicals are Metaholding with a share of 95.88%, the general director of the company Vladimir Daut (0.5%), Metafrax Trading (0.27%) and Victor Mayer (0.01%). Revenue of Metafrax Group according to IFRS in 2022 amounted to 78.2 billion rubles. (-2% by 2021), net profit – 12.7 billion rubles. (-20% by 2021). In June, the company launched a complex for the production of urea, ammonia and melamine with a total capacity of 1 million tons.
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