The State Property Fund of Ukraine has brought back “ZTMC” LTD under state control

At the general meeting of the shareholders of "Zaporizhzhya Titanium and Magnesium Combine" LTD Serhii Lubennikov was elected like Acting Director of the company.

Today, June 4, 2020, information according to which Serhii Lubennikov is officially Acting Director of “ZTMC” LTD was entered into the Unified State Register of Legal Entities.

"The Fund took firm steps bringing order to state objects, to ensure the efficient operation companies, of which was identified as strategic by the Cabinet of Ministers. As the replacement of material losses and corruption, we are implementing a transparent system of effective governance, which will create added value, profit for the state and high-paying jobs,” noted Sergii Ignatovskyi, Deputy Head of the State Property Fund of Ukraine.

Serhii Lubennikov, the new Acting Director of “ZTMC” LTD, has higher education degrees in law and economics, and more than twenty years of management positions experience in the metallurgy and fuel fields.

On February 26, 2020, the Cabinet of Ministers of Ukraine approved Serhii Lubennikov's candidacy on the appointment at Acting Director of “ZTMC” LTD.

Reference:

"ZTMC" LTD - founded on the basis of SE “Zaporizhzhia TMP” - the single producer of spongy titanium in Ukraine and Europe.

According to the Strategic on Program Development and Technical Modernization of “ZTMC” LTD production, the company’s capacity as stated by the construction project is 20 000 t / year of TS. State's Share: 51% of shares, the state corporate rights are managed by the State Property Fund of Ukraine.Scope of the company’s activity: production of non-ferrous metals, chemical products, wholesale of metals and metal ores.