ISD: DMKD has fully paid debts to Evraz for iron ore supplies

Monday, 30 August 2010 09:56:27 (GMT+2)

Ukrainian steel producer Industrial Union of Donbass (ISD) has said that in the 2009-2010 period its subsidiary Dneprovsky Iron and Steel Works named after F. Dzerzhinsky (DMKD) has successfully repaid in full its debts to Evraz Group for supplied iron ore.

ISD's statement came following media reports regarding the indebtedness of DMKD to subsidiaries of Evraz Group and legal proceedings related to this indebtedness.

"The sum of the debts of DMKD to the enterprises of Evraz, irresponsibly quoted in recent publications by some mass media sources, is not true," said ISD in its statement.

According to the statement, as of August 27, 2010, ISD and Evraz are carrying out checks of reciprocal payments for the period of 2008-2010. "The result may be the settlement of the remaining debts, the amount of which, however, will be insignificant," reads the company's statement.

Meanwhile, ISD did not deny that during 2008-2009, in conditions of the global financial and economic crisis, DMKD incurred debts to Evraz Group for delivered iron ore.

Last week, it was reported by some media that Evraz increased the amount of its claims for iron ore supplies to DMKD to UAH 447 million ($56.6 million).

 previous article  /  next article