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Minister: KVV Liepajas Metalurgs management has no plan how to ensure continued production
BC, Riga, 19.05.2016.
Print version
Print versionThe situation at the joint-stock metallurgical company KVV Liepajas Metalurgs is complicated and the company's management have no plan how to ensure continued production, Economics Minister Arvils Aseradens (Unity) said after a visit to Liepaja on May 18th, cites LETA.
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However, secured assets of KVV Liepajas Metalurgsare in good condition, added Aseradens.
"The company's main shareholder [Yevgeny Kazmin, co-owner of the Ukrainian KVV Group] has been arrested, and that is all we know about it at the moment," said Aseradens. The company's operations are paralyzed now as Kazmin was the one who made all the main decisions at the company.
The government will consider further action at its meeting on Tuesday, added Aseradens.
The government has been notified by investors' representatives that they may opt for an international investment protection dispute, therefore "we must proceed with caution", said Aseradens.
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