Shareholders of Elizavetinskiy Pilot Plant JSC to consider stay of proceedings due to low profitability

31 May 2006 (10:54)

The Board of Directors of Elizavetinskiy Pilot Plant JSC decided to hold the general shareholder meeting on June 23, 2006. The points on the agenda include electing the company’s Board, approving of the annual report, the accounting report, and of the report of the inspection committee for 2005.

The Board also suggested that the shareholders consider ceasing the production of girt and the accelerant due to economic reasons.

According to the company’s report, this is caused by the lack of financial investments, great budget debts, low profitability of production, and, lately, no orders from any clients whatsoever.

Asha Metallurgical Works makes 47% less profit in the first quarter of 2006 against the fourth quarter of 2005

The net profit of Asha Metallurgical Works JSC went down by 47% in the first quarter of 2006 (by 154,437,852 RUR) against the fourth quarter of 2005. This is due to a decrease in the sales revenues that, in its turn, was caused by the stagnation in the regional business activity because of the abnormally freezing weather in winter, the company’s spokesperson said. Their net profit thus came to 173,838,202 RUR.

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