The management of Ukraine's largest mineral water producer IDS Ukraine is concerned about the announcement of a competition to select a corporate rights manager of the company by the Asset Recovery and Management Agency (ARMA) and doubts that the transfer of management of the enterprise to other persons will a positive impact on his company's operations.

"The company's management is concerned about the start of the competition to select a manager for the assets of the largest producer of drinking water in the country. After all, since the transfer of corporate rights to ARMA in November 2022, no actions have been taken by the company that would require a change in the management of IDS Ukraine, including compliance with all imposed restrictions," the IDS Ukraine said on its website on Monday.

At the same time, the transfer of management of IDS Ukraine to other persons is unlikely to have a positive impact on the company's activities, since ARMA has not previously shown successful cases of working with assets that fell into its management.

The company recalled that its management managed the business effectively in the extremely difficult conditions of the Russian military invasion, in which it maintained its market share at the level of 2021, although it reduced sales by 29%.

Organizational business performance has remained broadly constant over the past 20 years, despite repeated changes in ownership structure. "The confirmation of the latter is the unconditional leadership and impeccable business reputation of the company, so we are convinced that there is no need to change the company's management and its employees," the company said.

The management of IDS Ukraine expressed the hope that "the state is interested in preserving the large Ukrainian water producer and will not allow changes in the management structure, which has proven its effectiveness in the past and in the current difficult conditions," the press service said.

IDS Ukraine said it continued to produce drinking water and contribute to the further development of the soft drinks category in Ukraine. Thus, in 2022, the production of Mirgorodska Lahydna non-carbonated water was resumed. In 2023, the production of the Volya energy drink began. The first batch of the drink of 40,000 cans was distributed among the frontline defenders of Ukraine.

Also, according to the company, IDS Ukraine remained the largest taxpayer in the industry, transferring UAH 699 million to the budgets of all levels last year, even taking into account the temporary occupation of one of its enterprises in Hola Prystan, Kherson region.

According to the press release, in cooperation with 194 funds and volunteer organizations, the producer of mineral waters provided charitable assistance valued at over UAH 100 million in 2022, including for the needs of the military, hospitals, and IDPs. Goods worth UAH 67 million for de-occupied territories were transferred free of charge. In addition, in January 2023 alone, the company supplied 120,000 liters of drinking water to de-occupied Kherson.

Currently, IDS Ukraine provides jobs for 3,000 Ukrainians, and also continues paying to all mobilized workers – the total amount of such payments in 2022 reached UAH 18.7 million.