Bank24.ru keeps clashing with a Nizhniy Tagil-based boiler and radiator-manufacturing plant. The media wrote about the plant’s failing to implement development strategy they had adopted. The strategy was actually aimed at building up the enterprise’s share of the market, but the plant admitted that it was unable to get the loan needed to finance the technical upgrades. The company claims their ongoing disagreements with Bank24.ru, one of their shareholders, are to blame for this. Bank24.ru controls about 30% of the plant’s shares at the moment.

Bank24.ru is reported to be trying to get full control over the plant through buy-out offers targeted at the other stockholders, but these attempts have so far been made in vain. The rest of the shareholders, including Nizhniy Tagil municipal council, have turned the bank’s offer down.

As a matter of fact, the hype around the conflict might have been sponsored by the plant itself in order to attack Bank24.ru and protect the other stockholders’ interests.