Unechsky Refractory Metals Plant (UZTM)

History

2024: Sale of Oktanta plant

Unechsky Refractory Metals Plant (UZTM), specializing in tungsten processing, was sold to Oktanta LLC. The deal took place in September 2024 as part of an auction to sell an asset declared bankrupt in the amount of ₽1,23 billion. The plant, known as one of the largest tungsten processors in Russia, came under the control of a non-core player in the person of a real estate company.

According to Kommersant, the winner of the auction was Oktanta LLC, owned by Maxim Slabinsky. Previously, he led and participated in real estate projects, such as the purchase of land in Moscow in the interests of developers. At an initial price of ₽1,2 billion, Oktanta offered slightly higher than this amount for the plant, leaving behind competitors, including more specialized companies such as Elbrusmetal JSC and Kvoter LLC.

Freepik

Before its bankruptcy, the Unechsky refractory metal plant was part of the assets of Wolfram, a company engaged in the processing and extraction of rare metals. The plant actively supplied its products to international markets, including companies such as, Samsung,, and AMD. Intel TSMC However, the deterioration in the market situation associated with the loss of foreign sales markets after the imposition of sanctions, as well as the general drop in tungsten prices in the global market, led to the bankruptcy of the enterprise in 2022.

The main products of UZTM include heat-resistant alloys for mechanical engineering, welding electrodes and other materials in demand in the military-industrial complex (OPK). Despite the difficult situation, the plant continues to function. A visit by representatives of local authorities at the end of August 2024 confirmed that the company supports work activities and retains production facilities.

Competition for the purchase of UZTM was significant. One of the applicants for the plant was Elbrusmetal JSC, created with the participation of Rostec, which is developing the Tyrnyauz field in Kabardino-Balkaria. This deposit contains 36% of Russia's in-place tungsten reserves, making it a strategically important asset for Russian industry. LLC Kvoter, associated with Alexei Zolotarev, also showed interest in UZTM, offering ₽1,21 billion for the plant.^[1]

Notes