A Russian steel company has filed lawsuits demanding that GAZ Group makes payment for rolled stock supplies.
Magnitogorsk Iron and Steel Works, or MMK, has filed lawsuits that are scheduled to be heard in court on March 11, Prime-Tass reported.
MMK stopped supplies to GAZ in October 2008, shortly after GAZ Group started delaying payments to suppliers.
Russia’s Novolipetsk Steel, or NLMK, stopped supplies to GAZ Group in November 2008 and is also preparing a lawsuit against the automaker, a representative of the company told business daily Vedomosti. According to the report GAZ Group owes 1 billion roubles to NLMK – the same figure is reportedly owed to MMK.
GAZ Group also owes Russian automaker Sollers for engine supplies, but the parties are trying to settle the debt out of court, a representative of Sollers told Vedomosti.
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