Heavy Metal Plant Faces Bankruptcy Amid Record Production in Mykolaiv

Heavy Metal, a plant in Pervomaisk, Mykolaiv region, that produces polymer-coated steel, is on the verge of bankruptcy.

The information was published on the website of the Supreme Court.

Specifically, the Kyiv Commercial Court opened insolvency proceedings at the request of Kamianets-Podilskyi-based Nordicsteel. This happened after the decision of the majority shareholder, Tetyana Taruta, daughter of MP Serhiy Taruta, to liquidate the company and appoint a new management.

"Nordicsteel, owned by Denis Rysukhin and Igor Yanishin of the Metipol group, disagreed with this decision. According to them, in 2024, the plant demonstrated the best performance ever: it produced 28,500 tons of products, including almost 15,000 tons of metal with a zinc content of Zn 100.

"After a successful year of activity of Heavy Metal LLC, with the highest production and sales volumes for the entire period of the company's existence, this decision looks irrational and destructive for the company and the team," the company's website said.

On February 14, 2025, a new management team was appointed: CEO Yevgeny Gusak and Executive Director Nikolay Fodchuk, who also act as liquidators of the company.

It should be added that the bankruptcy procedure provides for a moratorium on creditors' claims and management of the debtor's property by the insolvency officer, Oleksandr Tkachuk.

Meanwhile, law enforcement agencies are investigating the financial activities of the Mykolaiv Alumina Plant, which was previously owned by Russian oligarch Oleg Deripaska.

In March 2024, Mykolaiv Alumina Plant became the property of the State Property Fund of Ukraine.

Intent also wrote that a deep-freezing plant is planned to be built in Mykolaiv region. This will help the region expand its export potential, create new jobs and increase revenues to the regional budget.

Андрій Колісніченко