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Five enterprises of Ukrainian oligarch Igor Kolomoisky make monopoly in ferroalloy market, - media

The fact of a monopoly position is a violation of law, but this is not the only problem for these enterprises
13:18, 3 September 2019
Ukrainian oligarch Igor Kolomoysky
pravda.com.ua
 
Five enterprises of Ukrainian oligarch Igor Kolomoisky make a monopoly in the ferroalloy market. There are three plants and two mining and processing factories in his holding. At the same time, the style of doing business in areas under his control does not give a reason for optimism - the employees of factories have lower salaries than overall in the industry. And the holding exports its products through intermediary companies at low prices, Channel 5 of ex-president Poroshenko reports.

According to the industry experts, a group with a market share of 76-80% is a de facto monopolist.

"Although the Antimonopoly Committee does not notice this (monopoly position, - ed.). But the key market player exports its products through intermediary companies at low prices, which is confirmed by statistics data from the State Fiscal Service and Customs," the message reads.
 
Related: Poroshenko saved Ukraine from Russia, - Ukrainian oligarch Kolomoysky


The fact of a monopoly position is a violation of the antimonopoly legislation, but this is not the only problem for these enterprises. The style of doing business with these assets raises a question since it leads to under-receipt of funds by both the employees of the enterprises and the state budget.

“As a result, the state doesn't receive millions of foreign currency earnings and tax revenues. The situation with capital investments and the level of social protection at enterprises is no better. Thus, according to the reports of the Ukrainian metallurgists and miners union, the level of salaries at the Nikopol and Zaporizhzhya ferroalloy plants is much lower than at other metallurgical enterprises. The result of such a business model is unearned funds in budgets of all levels, industry experts indicate," the material says.
 
 
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