According to local press, Moscow "Econica Corporation", which owns 49% of the factory stocks, has quarreled with other stockholders - a group of physical persons, who upon receiving from former factory managers the additional share holding, took power into their hands and changed the factory management.
Econica accuses the opponents that they are going to stop the production and sell out the property of the factory. It should be reminded that the factory is situated in the centre of Moscow (Near Kurskaya underground station) where the land and real property are very expensive.
Production capacities of Footwear factory "Savva" are estimated for the production of 200000 pairs a year. In 2002 the lion's share of the manufactured production was shipped by the factory to Econica.
Currently Econica tries to dispute in the court the acquisition of the controlling stake by the opponents.

Source: RLN
18.02.2003