PJSC “Nord” is currently registered in Ukraine-controlled Kramatorsk town, but production facilities of the company are located in Donetsk city under control of the self-proclaimed “Donetsk People’s Republic”, Joinfo.ua reports with reference to Interfax-Ukraine.
A month ago, head of “DPR” Aleksandr Zakharchenko declared a “nationalization” of Ukrainian property. As a result, the largest Ukrainian manufacturer of refrigeration equipment PJSC “Nord” stops production from August 1 and conserves the fixed assets of the plant in Donetsk.
The decision was made by the Supervisory Board of PJSC “Nord” due to the inability to maintain production activities.
“At a time when PJSC “Nord” is not just unable to control, but can not even provide factors for normal functioning [of the plant], production activity is impossible; the only rational solution is the preservation of plant and equipment at the production site in Donetsk,” – the board said in a statement.
The Supervisory Board of PJSC “Nord” is headed by Andriy Landyk, which owns approximately 19.7% of the shares. About 80% of the shares are owned by his father, the president of “Nord” Valentyn Landyk.
PJSC “Nord” is the parent company of the group of companies “Nord” – an integrated research and production association of machine-building factories and organizations.
In 2015 PJSC “Nord” produced 162.781 refrigerators and freezers and sold 162.827 of them. That was respectively 52.1% and 52.3% less than in 2014.