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

by Max Hunder November 14, 2021 5:26 PM 1 min read
(Elektronmash/ Facebook)
This audio is created with AI assistance

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.

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