Stockholders of Uralkhimplast Ltd. decide to merge with Ural Chemical Company

27 April 2006 (09:24)

Uralkhimplast JSC has recently held the annual shareholder meeting that resulted in the majority of the shareholders voting in favour of a merger with Uralskaya Khimicheskaya Kompaniya, Ural Chemical Company JSC. The two companies’ assets will be accumulated within one joint stock company and the shares of the former will be converted to the shares of the latter.

The other points on the agenda concerned the annual and accounting reports as well as the P& L statement.

The report states that the company raised its shipments by 8% in 2005 compared to 2004. The shipments of the company’s leading product (artificial resin) grew by 4%. The pre-tax profit doubled.

The meeting was adjourned with the decision to pass the dividend for 2005 and invest the profits into production upgrading instead.

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