Viktor Pinchuk
Despite assurances from official circles in general and the Antimonopoly Committee in particular, corruption schemes continue to operate in Ukraine.
Otherwise, there's simply no explanation for Pinchuk registering the sale of a record number of Nikopol Pipe Plant shares to third-party companies based in Cyprus. Three organizations—Plamsted Limited, Wolbert Company Limited, and Kamset Holdings Limited—have announced their intention to purchase an equal number of shares (72,716,544,000 shares, or 19,3%). Two of these companies stated that they do not own a single share of NPTZ.
Previous publications reported that Wolbert Company Limited held a 24,98% stake in the joint-stock company Aura Insurance Company (Dnipro), while 71,69% of the shares were listed as assets of Interpipe (Dnipro). To understand the situation, it should be recalled that Interpipe acquired (in February 2007) 96,67% of NPTZ shares for UAH 352,614 million. Incidentally, the latter's authorized capital currently amounts to UAH 364,751 million (376,032 million shares with a par value of UAH 0,97). The situation with the other two is similar: according to older information, Plamsted Limited owned 100 shares of NPTZ, and Kamset Holdings Ltd. owned 0,00003%, with both serving on the company's audit committee.
Until a certain point (more precisely, until the third quarter of 2000), the Nikopol Pipe Plant was the only enterprise in Ukraine with a monopoly on the production of geological exploration pipes, tubing, and rolled pipes for high-pressure boilers. Following its restructuring, its operations were completely suspended, and its production capacity was transferred to the authorized capital of newly formed joint-stock companies. The Nikopol Pipe Plant now generates income from leasing out its premises and remaining equipment, without producing any of the previously listed products.
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