Privat Group
In 2003 as part of a governmental privatisation plan a 50% stake in the plant was sold to Interpipe Group for 80million dollars considered to be a fraction of its true worth. A further 26% was acquired by the Privat Group. The sale later became part of a political scandal in Ukraine relating to privatisations as well as court proceedings to undo the privatisation. The situation echos similar problems with the privatisation of other major Ukrainian industrial concerns, including Luhanskteplovoz and Kryvorizhstal; both being also sold for under market value, in privatisation sales that were later reversed. The company was also fought over by the two major stake holders Privat Group and Interpipe.