17:38 07.08.2020

DCH Group guarantees preserving, developing production base of Motor Sich, technologies, intellectual property rights – Yaroslavsky

2 min read
DCH Group guarantees preserving, developing production base of Motor Sich, technologies, intellectual property rights – Yaroslavsky

The DCH Group of Ukrainian businessman Oleksandr Yaroslavsky guarantees the preservation and development of the production base of PJSC Motor Sich (Zaporizhia), its technologies, jobs and intellectual property rights after the acquisition of its shares.

According to a DCH press release distributed on Friday, the owner and president of the group, Yaroslavsky, gave this information.

"Unfortunately, the processes that are now being observed in relation to Motor Sich cannot but cause concern. Yesterday, after the Chinese investors of the enterprise disclosed information about filing a joint application with DCH to the AMCU [the Antimonopoly Committee of Ukraine] as part of the mandatory disclosure of information on the Shanghai Stock Exchange, the Prosecutor's Office additionally seized the shares and changed the charge to "high treason." At the same time, strong-arm pressure is being exerted on the AMCU employees in order to prevent the implementation of our agreements with Chinese partners and, in general, to prevent them, the legal shareholders of the enterprise, from disposing of their property and their corporate rights," he said.

The owner of DCH said that Chinese investors have invested in the Ukrainian enterprise, intending to modernize it and ensure supplies of products important for Ukraine to the domestic market of China. And if the Ukrainian government continues to obstruct the legal realization of their rights and interests, then the consequences for Ukraine could be unfavorable. "Presumably, including the filing of multimillion-dollar lawsuits by the Chinese side with international courts and a significant cooling of bilateral relations with China as Ukraine's main trading partner," Yaroslavsky said.

"We [DCH] will do our best to provide confidence in the future for the enterprise's staff and protect the interests of the people of Ukraine. This is extremely important, because today the enterprise has virtually no owner, performance indicators are steadily deteriorating, urgent crisis response measures are needed to prevent its eventual elimination. However, we consider any attempts to force investors to negotiate with someone unacceptable and deserve separate consideration within the framework of anti-corruption legislation," he said.

Appealing to President Volodymyr Zelensky to intervene in the situation, Yaroslavsky expects the authorities to make a "statesman-like decision that will preserve Motor Sich for Ukraine and will meet the national interests of the state."

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