Severstal denies debt to Uralmash Engineering

11 March 2009 (08:03)

Severstal denies the claims made by Uralmash Machine-Building Corporation’s GD Nazim Efendiev regarding the money the former allegedly owes to Uralmash Engineering. Efendiev actually stated at a trade union meeting that Severstal had failed to pay the company for the goods already delivered to them.

‘We cannot see why Severstal should be put on the list of companies unable to pay for the produce shipped to them. This is how things stand: the company bought a 500-ton crane from Uralmash Engineering and hasn’t paid 10 million RUR to it by now. This sum is nothing but a delayed payment (provided for by the terms of the agreement). According to our contract, Severstal is allowed to postpone the payment of 10% of the crane’s cost and pay the sum after the assembled crane has been registered with Rostechnadzor,’ says Severstal Cherepovets Iron & Steel Works press officer.

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