Recently nationalized Motor Sich and Ukrnafta to work for national defense, Ukrainian PM says

7 November 2022, 09:46 PM
Prime Minister of Ukraine Denys Shmyhal (Photo:Denys Shmyhal/ Facebook)

Prime Minister of Ukraine Denys Shmyhal (Photo:Denys Shmyhal/ Facebook)

Strategic Ukrainian enterprises that were recently nationalized – Motor Sich, Ukrnafta, Ukrtatnafta, AvtoKrAZ, and Zaporizhtransformator – will work around the clock to meet national defense needs of the country, Ukraine’s PM Denys Shmyhal said in a Telegram post on Nov. 7.

“The shares of five enterprises – Ukrnafta, Ukrtatnafta, AvtoKrAZ, Motor Sich, and Zaporizhtransformator – became military property, passed into the control of the Ministry of Defense,” said Shmyhal.

“As of today, the shares have been expropriated into state ownership, in strict accordance with the law.”

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Shmyhal added that these five companies will focus entirely on fulfilling wartime needs of the state, as they are strategically important and supply vital military products.

“They must work 24/7 for the needs of our state,” he stressed.

The PM assured there will be no layoffs at any of the businesses, which can now expect a greater volume incoming of state orders, with idling manufacturing facilities resuming operation.

“Their potential will be fully used,” Shmyhal added.

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