In view of the information spread by some mass media regarding the commencement of the enforcement proceedings against ISD steel mills AMK (Alchevsk Mettalurgical Plant) and DMKD (Dneprovskiy Metallurgical Plant) concerning debt recovery to Metinvest Group initiated by the public enforcement service of Ukrainian Justice Department, ISD Corporation finds it necessary to state the following.
During years 2008 and 2009 which saw the unprecedented global financial and economic collapse where steel producers were hit especially hard, ISD mills — AMK and DMKD were objectively indebted to Metinvest for iron ore supply.
Though as of today ISD bindingly confirms that the amount of ISD debt to Metinvest, irresponsibly manipulated by mass media in recent publications, is incorrect.
AMK and DMKD steel mills successfully accomplish debt repayment responsibilities to their partners, including iron ore suppliers.
Besides, ISD Corporation efficiently negotiates with world banks and financial institutions which are ISD’s loan holders regarding the financial debt restructuring as a common practice for almost every industrial company during this tough period.
Being confident of its future ISD expresses hope for further successful partnership with raw materials suppliers, Ukrainian and world banks and financial institutions.