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Dnipromlyn stopped functioning due to management change
05.07.2004 16:59 "Agro Perspectiva" (Kyiv) —
Workers of Dnipromlyn (Dnipropetrivsk region) have stopped production and ready articles’ shipment for indefinite period, thus expressing disagreement with Jun 27, 2004 shareholders meeting’s decision on Dnipromlyn’s management change, reported Myckola Kamyshanov, Dnipromlyn’s Director. As to M. Kamyshanov, shareholders’ meeting was initiated by Company Ukrzernoprom (Dnipromlyn’s 26.4% shareowner). Yet, representative of Company Dobrobut (Dnipropetrivsk), Dnipromlyn’s 67% shareholder, wasn’t permitted to attend meeting. Dnipromlyn’s workers, considering management change as well as Jun 27, 2004 shareholders meeting’s decision to be illegal, have addressed Dnipropetrivsk public prosecutor’s department, Interior Affairs Ministry Administration as well as Ukrainian Security Service to help settling the problem. As reported, Ukrzernoprom initiated holding extraordinary Dnipromlyn’s (Dnipropetrivsk) shareholder’s meeting in order to discuss questions of changing of monitoring council, auditing commission, management and record keeper. As to Share Market’s Development Agency, Dnipromlyn’s 26.33% shares are owned by Ukrzernoprom, 60.23% by Dobrobud (Dnipropetrivsk). Dnipromlyn specializes in flour, bakery and macaroni products’ output, with its 900t/day grain processing capacities satisfying ~ 46% region’s demand. In 2002 Dnipromlyn’s workers asked Dnipropetrivsk city’s and region’s authorities to prevent buying-up their Company’s shares by Ukrzernoprom. By now Ukrzernoprom owns a number of bakery integrated plants and elevators.
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