The Ukrainian Chemical Products lost its economic attractiveness due to political circumstances, and therefore, having no control over it since 2016, the Group sought possibilities to sell it.
"The terms of the agreement stipulate that all movable and immovable property of the former Krymsky Titan plant becomes the property of the buyer. The agreement is closed, the relevant changes to the registers have been made by the state registration authorities of Ukraine," mentioned by the Company.
In 2014, the Ukrainian PJSC Krymsky Titan was re-registered from the town of Armyansk to Kyiv, then Group DF renamed it to the Ukrainian Chemical Products. The owner of the company is Ostchem Germany GmbH (Hamburg, Germany).
According to Ukrainian media, the deal is not linked with the restrictive measures imposed on Dmytro Firtash and the Valki Ilmenite group under his control by the National Security and Defense Council of Ukraine. The sale of the asset began long before the imposition of appropriate sanctions.
The Russian Titan LLC was established in July 2021 with a share capital of RUB 10,000. It was founded by Sergey Romanenko – 50%, Roman Stepanov – 30%, and Sergey Maksimov – 20%. The company’s main activity is the extraction and enrichment of titanium-magnesium raw materials.