Egorshinskiy radio plant can afford to pay, committee claims

7 April 2009 (10:25)

‘To solve the problems our company is currently facing, a tripartite agreement needs to be signed by Egorshinksiy radio plant, Novicombank, and AvtoVAZ. This will bring more money to the plant,’ Egorshinksiy radio plant’s GD Vitaliy Elkin said at the region’s industry supporting committee meeting.

‘However, it’s not possible to sign the agreement right now because last year’s obligations haven’t been met yet. The reason for this is that our salary accounts have been arrested and we need to pay the debt and the fines imposed on those accounts. The sum in question is only 6 million RUR, but the stockholders are unable to provide this amount at the moment, so our only option is some directed funds,’ he added.

Meanwhile, the committee members (the plant’s shareholder Pavel Chernavin, for example) said they believed the company could afford to pay the fines or to find the resources at the companies where they hold shareholdings.

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