Privatization Of Ukrainian Steel Company Ruled Illegal

Feb. 18, 2005
Late last week, a Ukrainian court ruled that the privatization of the country's largest steel enterprise, Krivorizhstal, was illegal. The decision paves the way for the sale to be annulled by the supreme court. The announcement came a day after Prime ...

Late last week, a Ukrainian court ruled that the privatization of the country's largest steel enterprise, Krivorizhstal, was illegal. The decision paves the way for the sale to be annulled by the supreme court. The announcement came a day after Prime Minister Yulia Tymoshenko said the government planned to review past privatizations of thousands of enterprises.

The ruling was issued by a tribunal in Kiev which reversed a court judgment from last August declaring that the sale last year of the Krivorizhstal plant had taken place legally. Tymoshenko announced that this strategic factory would be returned to state control "in the coming weeks".

Cancellation of the Krivorizhstal plant's privatization would mark the first in what many expect to be a long list of "strategic" enterprises that the new authorities in Ukraine claim were privatized fraudulently under the regime of the former president, Leonid Kuchma.

Copyright Agence France-Presse, 2005

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!