Representation of the plant will be closed due to the economic inexpediency of its future activities. The Supervisory Board of the Dneprospetsstal plant (Zaporozhye) decided to close the office in Moscow on June 2, Economic Truth. According to the message, the representation will be closed due to the economic inexpediency of its future activities. Previously, it performed the functions of representing and protecting the commercial interests of an enterprise in the Russian market. It is noted that in 2016, compared to 2015, Dniprospetsstal reduced its loss by 42.9% to UAH 403.651 million, reducing net income by 7.9% to UAH 6.319 billion. In 2016, compared to 2015, the plant reduced steel production by 3% to 237,033 thousand tonnes. PJSC Dneprospetsstal produces long products and forgings from special steel grades: stainless, tool, high-speed, bearing, structural, as well as from heat-resistant nickel-based alloys.

The plant is part of the assets of VS Energy International Group, which belongs to Ukraine Kyivoblenergo, Odessaoblenergo, Sevastopolenergo, Khersonoblenergo and hotel business. VS Energy's beneficiaries are Russian businessman Evgeny Giner, State Duma deputy Alexander Babakov, Mikhail Voevodin and Sergei Shapovalov. Earlier it was reported that the Dnipro Metallurgical Plant stopped production due to the cessation of supplies of coke and the shortage of current assets.

Original article: Dneprospetsstal closes a representative office in Moscow.