Togliattiazot Employees Held a Rally Against Hostile Takeover of the Plant

On Monday, July 1, Togliattiazot employees held a protest meeting against the corporate raid of the enterprise in the recreation park of the Komsomolsky District of Togliatti. The protest event was coordinated with the city administration, the organizers said. The trial regarding accusations of embezzlement against the ex-leaders of TOAZ, have been ongoing since February 2018. A criminal case against them was initiated back in 2012 at the request of Uralchem, a minority shareholder of TOAZ, but for more than six years the investigators could not bring it to trial.

On Monday, July 1, Togliattiazot employees held a protest meeting against the raider seizure of the enterprise in the recreation park of the Komsomolsky District of Togliatti. The protest event was coordinated with the city administration, the organizers said.

At the meeting organized by the Togliattiazot trade union, the employees protested against the pressure on the plant and workers, as well as against judicial arbitrariness against the company. The protesters also spoke about the information attacks that negatively affected the plant’s public image.

The trial, in which former leaders of TOAZ are accused of embezzlement during the sale of ammonia and urea, has been ongoing since February 2018. A criminal case against them was initiated back in 2012 at the request of Uralchem, a minority shareholder of TOAZ, but for more than six years the investigators could not bring it to trial. The investigation believes that the accused misappropriated stolen products of the plant worth almost 85 billion rubles. The defence notes that, over the years, the company has received more than 65.5 billion rubles in revenue, paid salaries and taxes to the budget, as well as dividends to shareholders, and the calculation of the value of Togliattiazot's products, on which the accusation is based, contains gross errors and is carried out by biased experts engaged by investigators. At present, the Komsomolsky District Court has heard all the parties to the trial, a debate was held the day before this publication, and on July 2 the verdict reading-out will begin.

https://www.kommersant.ru/doc/4018401

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