PJSC Vatutinsky Refractories Plant (VKO, Cherkasy region) reduced its net loss by 24.5% in 2023 compared to 2022, to UAH 119.720 million from UAH 158.506 million. The company’s announcement of a remote annual meeting of shareholders on December 6 this year states that due to losses in 2022-2023, no dividends will be accrued or paid for this period.
The shareholders intend to approve the reports for 2022 and 2023, approve significant transactions, renew the composition of the Supervisory Board and terminate the powers of the members of the Audit Committee.
In addition, the agenda includes the issue of changing the company’s name to Imeris Bagacheve PrJSC.
As reported, in 2021, VKO reduced its net loss by 25% year-on-year to UAH 47.192 million from UAH 62.958 million, with retained earnings at the end of 2021 amounting to UAH 141.884 million.
Vatutinsky Refractories Plant was established on the basis of Novoselytsia kaolin quarry, which has been in development since 1963, and a chamotte firing plant launched in 1970, which was joined by Murzynsky kaolin quarry in 1982. The company specializes in the extraction and processing of secondary kaolins for specialized refractory complex enterprises producing aluminosilicate refractories for metallurgy, energy, mechanical engineering and construction.
The design capacity of VKO’s kilns is 320 thousand tons of calcined kaolin (fireclay) per year.
According to the second quarter of 2024, the plant’s main shareholder is the French company Imerys Refractory Minerals Clerac, which owns 89.3858% of the shares.
The authorized capital of VKO is UAH 5.911 million.
