Ex-head of Amurmetal announced of the company’s going bankrupt

​The only electric metallurgical enterprise on steel making with further production of sort-rolled products and plates in the Far East of Russia – “Amurmetal” OJSC – is increasing its debts by moving out its financial assets, the ex-head of Amurmetal, V. Limankin, said.

“In July-September 2013, before the start of the bankruptcy procedure, the enterprise had made over 270 mln roubles of sales profit. Unfortunately when a new management came, there was only a significant sales loss: minus 278 mln roubles within 6 months”, he said.

According to him, the new team came aiming for the uncontrolled moving out of financial assets of Amurmetal with the monthly turnover of over 1 bln roubles.