"United Mining and Chemical Company" | News | JSC UMCC is completing environmental audit together with the advisor

JSC UMCC is completing environmental audit together with the advisor
JSC UMCC is completing environmental audit together with the advisor

28.01.2020

The audit report will help potential investors understand the impact of the company on the environment.
BDO Corporate Finance LLC, the advisor on privatization of JSC United Mining and Chemical Company, is completing the environmental audit of JSC UMCC.
In the course of November-December 2019, environmental auditors worked at the Vilnohirsk MMP and Irshansk MPP subsidiaries, where they studied the available permits and licenses, and environmental programs implemented at the plants. In particular, the auditors examined the following: impact on the subsidiaries on the air, water resources and how the plants treat own waste, which licenses and permits they hold in these spheres and how work to prevent accidents and their consequences.
The representatives of the advisor are satisfied with cooperation with the employees of JSC UMCC at its subsidiaries, who provided all required information, documents and explanations. This will allow to quickly draw up the environmental report for the client – State Property Fund of Ukraine, which potential investors will have access to in the future.
Oleksandr Gladushko, Acting Chairman of the Board of JSC United Mining and Chemical Company, ensures the work of all company’s divisions and units with the representatives of the advisor on all issues of preparation for privatization.
“Once again, JSC United Mining and Chemical Company has shown openness and transparency in the audit of its activities by the auditors. We are prepared for any kind of cooperation within the framework of the law, which brings us closer to the sale of the company. I am confident that UMCC is an example of disciplined cooperation with the advisor in the preparation for the privatization among all state enterprises, the sale of which is planned by the SPF for 2020,” emphasized the head of the company.
As a reminder, BDO Corporate Finance earlier informed that collection of indicative bids from potential buyers will be carried out in February 2020. In March 2020, the advisor plans to complete drafting recommendations for the conditions of tender and starting price. Provided the Cabinet of Ministers of Ukraine approves a corresponding decision, the privatization tender can be scheduled for May 2020.