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Kyiv’s state-owned Elektronmash factory auctioned off for $37 million on Nov. 12

November 14, 2021 5:26 pmby Max Hunder
(Elektronmash/ Facebook)

The buyer is Lorten Group, an obscure business entity with registered capital of less than $4. The company will take on the factory’s $36 million debts.

The plant once employed over 10,000 workers and was one of the largest computer producers in the Soviet Union. In the past 30 years, it drastically scaled back operations and has lately produced gas and electricity meters with a staff of 140.

Max Hunder
Author: Max Hunder

Max Hunder is a business reporter at the Kyiv Independent. He previously worked as a business reporter at the Kyiv Post focusing on infrastructure and energy. He is a graduate of Eton College and University College London, and has reported for international publications from London, Kyiv and Yerevan.

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