A 99.9952% state-owned stake in one of Ukraine’s largest chemical companies, Sumykhimprom JSC, will be put up for an electronic auction on the “Prozorro.Sales” trading platform on October 13, 2026.
This decision was made by the auction commission chaired by Vitaliy Kovalenko, deputy head of the State Property Fund of Ukraine, the Fund announced on Facebook.
The State Property Fund of Ukraine (SPFU) noted that on July 8 of this year, the government approved the terms and the starting price for the sale of this stake at 1.005 billion UAH.
As previously reported, the repeat online auction for the privatization of “Sumykhimprom,” scheduled for January 13, 2026, with a price reduced by 9.3% to 1 billion 88.081 million UAH (excluding VAT), did not take place due to a lack of participants, just like the previous auction on June 11, 2025.
“Sumykhimprom represents a unique opportunity to acquire nearly 100% of the shares in an operating, high-capacity chemical complex with a wide range of products and significant production facilities for further modernization and development of export potential,” emphasized the State Property Fund of Ukraine (SPFU).
According to the terms of the tender, the new owner was required to maintain the company’s core business activities and invest at least 150 million hryvnias in technical re-equipment and production modernization. In addition, the winner must settle wage arrears and budget debts within six months, as well as overdue accounts payable—excluding debts owed to individuals and legal entities subject to sanctions and their associated parties, as well as creditors whose beneficiaries are citizens or residents of the Russian Federation and/or Belarus. The buyer must comply with social guarantees for employees in accordance with labor law requirements and prevent their dismissal for six months following the acquisition of the asset.
“Sumykhimprom” is one of the largest domestic enterprises producing compound mineral fertilizers, titanium dioxide, sulfuric acid, and other inorganic chemicals. The enterprise is among the top three revenue-generating enterprises in Sumy and the region. It produces more than 30 brands of NPK fertilizers with varying nutrient ratios for different soil and climatic zones.
For over 10 years, the plant was managed by a group of companies affiliated with Group DF, owned by businessman Dmytro Firtash. In November 2023, the Commercial Court of Sumy Oblast granted the motion filed by the State Property Fund of Ukraine (SPFU) and the Ministry of Justice and closed the proceedings in the bankruptcy and reorganization case of “Sumykhimprom.”
The SPFU had planned to sell the company to a private investor even before the full-scale war began. However, privatization was delayed due to the stance of minority shareholder Firtash, who in 2010 acquired 0.005% of the company’s shares and gained control over its management. “Sumykhimprom” accumulated debt, which led to the formation of a creditors’ committee and the initiation of a reorganization procedure.
Since 2015, the State Property Fund of Ukraine (SPFU) had been trying through the courts to halt the company’s bankruptcy proceedings, but was only able to do so in 2023, which cleared the way for privatization.
In March 2022, Russian forces shelled the plant, causing an ammonia leak. As a result, the plant was shut down for a year and resumed operations in the spring of 2023. As of June 2025, the front line was less than 30 km from “Sumykhimprom.”
According to the 2025 report, the company’s accounts payable at the end of the year amounted to 4.135 billion UAH, of which 1.292 billion UAH was debt related to the bankruptcy case initiated by the Commercial Court of Sumy Oblast in October 2011, based on the court-approved register of the JSC’s creditors.
“The company’s lack of working capital, unprofitable operations, and production downtime are causing its accounts payable to rise,” the report states.
Sumykhimprom’s revenue in 2025 amounted to 129.2 million UAH (compared to 395.9 million UAH the previous year), gross profit to 53.3 million UAH (9.9 million UAH), and net loss to 405.7 million UAH (600.2 million UAH).
“The main reason for Sumykhimprom’s unprofitable operations in 2025 was the forced shutdown of production facilities from November 2024 through July 22, 2025, and the shutdown of all structural units in the fourth quarter of 2025. In 2025, Sulfuric Acid Plant No. 5 operated for only two months,” the report states.
According to the report, due to the escalation of the dangerous situation in the region, the regional military administration did not grant permission to purchase ammonia, which prevented the company from launching its production program for complex mineral fertilizers, as envisaged in the approved financial plan for 2025.
AUCTION, CHEMICALS, PRIVATIZATION, State Property Fund of Ukraine, SUMYKHIMPROM
The State Property Fund of Ukraine (SPF) has announced that on January 13, 2026, it will hold a repeat online auction for the privatization of 99.99% of the shares of one of the largest domestic chemical enterprises, Sumykhimprom, the agency’s press service reported.
The SPF set the starting price of the lot at UAH 1 billion 88.081 million (excluding VAT), which is 9.3% lower than the starting price at the auction on June 11, which did not take place due to the lack of participants.
The SPF reminded that Sumykhimprom is one of the key objects of large-scale privatization under its management.
“Sumykhimprom is a unique opportunity to acquire almost 100% of the shares of an operating, powerful chemical complex with a wide range of products, significant production areas for further modernization and development of export potential,” the SPF emphasized.
According to the terms of the tender, the new owner will have to maintain the company’s main activities and invest at least UAH 150 million in technical re-equipment and modernization of production. In addition, the winner will have to pay off wage and budget debts, as well as overdue accounts payable, within six months, except for debts to individuals and legal entities subject to sanctions and related parties, as well as creditors whose beneficiaries are citizens/residents of the Russian Federation and/or Belarus. The winner must comply with social guarantees for employees in accordance with the requirements of labor legislation and not allow their dismissal within six months after the acquisition of the asset.
Sumykhimprom is one of the largest domestic enterprises producing complex mineral fertilizers, titanium dioxide, sulfuric acid, and other types of inorganic chemicals. The company is one of the top three budget-generating enterprises in the city of Sumy and the region and produces more than 30 brands of NPK fertilizers with different nutrient ratios for different soil and climatic zones.
For more than 10 years, the plant was managed by a group of companies affiliated with entrepreneur Dmitry Firtash’s Group DF. In November 2023, the Commercial Court of Sumy Region granted the petition of the State Property Fund and the Ministry of Justice and closed the bankruptcy and reorganization proceedings against Sumykhimprom.
The SPF planned to sell the company to a private investor even before the full-scale war. However, privatization was delayed due to the position of minority shareholder Dmitry Firtash, who in 2010 acquired 0.005% of the company’s shares and control over its management. Sumykhimprom accumulated debts, which allowed the creation of a committee of creditors and the initiation of reorganization proceedings.
Since 2015, the SPF has been trying to stop the bankruptcy proceedings of the company through the courts, but was only able to do so in 2023, which unblocked the privatization.
In March 2022, the Russians shelled the company, leading to an ammonia leak. As a result, the plant was out of operation for a year and resumed work in the spring of 2023. As of June 2025, the front line was less than 30 km from Sumykhimprom.
According to information on the website, the company’s revenue in the first half of 2025 fell fourfold to UAH 36.1 million, while net losses decreased by 39.6% to UAH 189.1 million. In addition, as of mid-year, the company had UAH 0.30 billion in long-term debt and UAH 3.63 billion in current liabilities.
PJSC Sumykhimprom, the only state-owned titanium dioxide producer in Ukraine managed by the State Property Fund of Ukraine (SPF), has resumed operations after a long pause, according to the industry news agency Infoindustry.
“In the spring of 2024, raw materials were purchased and production of the first products began. The first commercial product, ammonium sulfate, was received this week, on April 21-22, 2024. The goods are already being shipped to customers at a price of UAH 13800 per ton, big bag, from the plant’s warehouse,” the agency said.
According to him, the plant intends to produce nitrogen-phosphorus and complex three-component fertilizers. The manufacturer has already purchased ammonia and sulfur and is in the process of purchasing phosphate rock and potash ores for fertilizer production. The new management of PJSC Sumykhimprom is open to cooperation with distributors and partners to revive the titanium giant, the statement said.
“Sumykhimprom is one of the largest domestic enterprises producing complex mineral fertilizers, titanium dioxide, sulfuric acid and other inorganic chemicals. The company is one of the top three budget-forming enterprises in Sumy and the region and produces more than 30 brands of NPK fertilizers with different nutrient ratios for different soil and climate zones.
For over 10 years, the plant had been managed by a group of companies affiliated with Dmitry Firtash’s Group DF. In November 2023, the Commercial Court of Sumy Region granted the petition of the SPF and the Ministry of Justice and closed the bankruptcy and rehabilitation proceedings against the state-owned Sumykhimprom.
PJSC SUMYKHIMPROM has started the step-by-step restoration after the forced stop of the enterprise activity last year, which lasted almost half a year after shells hit the territory of the plant and damaged some objects.
“We have completed the restoration works, overhauls and in April we will start up the basic shops of the plant. The whole technological cycle will be started,” Vladimir Volkov, the executive director of the plant, said at the meeting of the Union of Chemists of Ukraine.
According to his words it is planned to load in full the workshops on production of mineral fertilizers, pigments and sulfuric acid production.
“Already in April our capacities will be able to produce 20-25 thousand tons of fertilizers per month with step-by-step increase up to 35 thousand tons per month, about 1800 tons of titanium dioxide and 35-40 tons of sulfuric acid per month”, – said the director.
He noted that a significant package of orders has already been formed for the coming months.
“We have to fulfill the production plan to produce more than 200 thousand tons of complex fertilizers within half a year,” Volkov stressed, noting that in-house production allows to reduce the risks of import supplies during the war.
The head of Sumykhimprom specified that the production program of fertilizers is adjusted to the demand of Ukrainian agrarians.
“We will produce the entire classic range of highly effective granulated NPK and NP fertilizers containing all the main nutrients. We can produce fertilizers with specified standard properties in full accordance with customer needs,” Volkov emphasized.
“Sumykhimprom” is one of the largest domestic enterprises producing complex mineral fertilizers, titanium dioxide, sulfuric acid and other types of inorganic chemistry. The enterprise is one of three budget forming enterprises of Sumy and Sumy region and produces more than 30 grades of NPK-fertilizers with different ratios of nutrients for different soil and climate zones.
An ammonia leak at the chemical industry plant PJSC Sumykhimprom occurred due to shelling. One person was injured, the press service of the State Emergency Service of Ukraine has said.
“On March 21 at 03:55 in Sumy, the territory of Sumykhimprom was shelled. Due to the shelling, one tank with ammonia was damaged. As of 05:00, there was a slight leak of ammonia,” the press service wrote in the Telegram channel on Monday.
As of 7:30 am, rescuers were working to put a bandage on the damaged pipeline.
