Crimean Soda Plant: prosecutor forces return of unpaid dividends

The Crimean Prosecutor“s Office has obliged Ukrainian soda ash producer the Crimean Soda Plant (Krasnoperekopsk, Crimea) to pay UAH 0.5 million back to the state on account of unpaid dividends for 20…

The Crimean Prosecutor“s Office has obliged Ukrainian soda ash producer the Crimean Soda Plant (Krasnoperekopsk, Crimea) to pay UAH 0.5 million back to the state on account of unpaid dividends for 2002. According to a statement to the press, the prosecutor“s office issued a demand for the return of UAH 1.136 million in unpaid dividends for 2002 to the national budget. The dividends should have been paid to state-owned enterprises. The prosecutor“s office said it is taking measures for the full reimbursement of unpaid sums. The plant finished 2002 with net profit of UAH 7.54 million. Since then the State Property Fund“s 89.48% holding in the plant has passed to the German-British RSJ company Erste Beteiligungs GmbH. The plant produces A brand (heavy soda) soda ash and B brand (light soda) and has 3% of the world soda production market. The Crimean soda plant finished 2004 with net profits of UAH 56.464 million.