The shareholders of the Baltsem plant (Balakliia, Kharkiv region), one of the three major cement producers in Ukraine, abolished the plant’s board of directors at a meeting on July 7 and appointed Viktor s Khludeev as the plant’s director-general. Specifically, the shareholders removed Anatolii Panasenko, Oleksandr Kadyhrob, Viacheslav Fevronin, Oleksii Didenko, Volodymyr Yatskov, Dmytro Horshanov, Viacheslav Tertychnyi, Valentyna Levchenko, Marharyta Haivoronska, and Tymur Novykov from the board of directors. The supervisory board of the plant replaced Serhii Lytvynenko with Viktor Khludeev as the chairman of the plant’s supervisory board in May.
The Eurocement Group recently acquired a controlling stake in the Baltsem plant from Pryvatbank-affiliated companies. The company produced 1.753Mt of cement and 1.314Mt of clinker in 2004. Russia’s Eurocement Group owned 96.77% of the shares in Baltsem as of June 2005.