The Asset Recovery and Management Agency (ARMA) has transferred the Lviv Insulator Plant to the management of NEC “Ukrenergo.”
This was reported by ARMA's press service.
It is emphasized that the transfer of LLC “Lviv Insulator Company” to the management of NEC “Ukrenergo” was carried out in accordance with the directive of the Ukrainian government, using the mechanism outlined in Article 21-1 of the ARMA law, which allows for the transfer of state-critical facilities under a special procedure.
“The Lviv Insulator Plant is a unique enterprise – the only producer of glass insulators in Ukraine, which are critically important for the functioning of the energy infrastructure. This is especially relevant in the context of war, as the plant's products are used to restore damaged energy networks,” the statement reads.
It is noted that the key advantages of transferring this asset to Ukrenergo include preserving its production potential, ensuring the energy security of the state, and guaranteeing 95% of revenue to the state budget on a monthly basis.
According to information from Youcontrol, currently, 70% of this LLC is owned through GIG Holdings by Olga Dubovitskaya, who is registered in Estonia.
A freeze on LLC Lviv Insulator Company was imposed by the Halytskyi District Court of Lviv.
Recall that Mind reported that in September 2022, the court seized the corporate rights and property of “Lviv Insulator Company” (LIC) valued at 470 million UAH, which, according to the Office of the Attorney General, belongs to citizens of the Russian Federation. The owner of the plant is an Estonian company, while the beneficiaries are a group of Russian citizens who exercise financial control over the money from the sale of glass products.
According to the investigation, officials evaded tax payments through financial intermediaries. In addition, these Russian citizens are involved in material support for the Ministry of Defense of the Russian Federation.