print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases  MOSENERGO (TGC-3) REGISTER LOG IN

Press Releases > MOSENERGO (TGC-3)  all about the company

company search
all press releases
all MOSENERGO (TGC-3) press releases

MOSENERGO (TGC-3)

September 17, 2003

On September 18, AO MOSENERGO restricted power supply to Kolomna Heavy Machine-Tool Building Plant (KZTS)

This decision was caused by the high debts the plant owes to AO MOSENERGO for consumed electricity. From July to December 2002, KZTS's debt to AO MOSENERGO grew to 3.7 million rubles. AO MOSENERGO did not succeed in numerous attempts to resolve the problem through negotiations.

In the past, KZTS was one of AO MOSENERGO's biggest consumers. In addition to production facilities of the plant, AO MOSENERGO supplied power to numerous sub-customers of the plant (social facilities and other utilities). In July 2002, the plant went bankrupt and put under outside management. The plant's debt (48 million rubles) was frozen.

Today, the total KZTS debt for consumed electricity exceeds 51 million rubles. The debt grew by 3.7 rubles when the plant was under outside management. As the debt moratorium does not apply to this part of the debt, AO MOSENERGO has repeatedly asked the management to redeem this specific amount but each time was met with a refusal.

As KZTS shows no intention of paying its debts, AO MOSENERGO has had to restrict power supply at the plant and a number of its sub-customers. To avoid power cutoffs at social institutions in Kolomna, AO MOSENERGO needed the access to electric equipment located on the plant's premises. Earlier, AO MOSENERGO's representatives were not allowed at the plant.

AO MOSENERGO hopes that the plant's management will take a more constructive position in helping to resolve the debt problem.

 

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer