On June 26, 2006, sintering machine №1 was put into operation after the scheduled repairs at the sintering shop of Vanadium Ore Mining and Processing Enterprise JSC of Kachkanar. One day later, the company’s technicians and the equipment repair service experts went on with the preventive overhaul of machine № 2. These experts are to replace the small parts of the machine and to eliminate the imperfections in the way the machine operates. The sintering machine is to be put into operation on June 30,’ says the company’s spokesperson. The spokesperson also reported that the overhaul should

Ural Interregional Department of Russian Federal Property Fund announced the results of the auction aimed at selling the shares of UralAviaInform JSC. These results were summed up on June 1, 2006. Put up to auction were 31,270 ordinary registered shares (state serial number 1-01-31703-D), that is, 100% of the company’s authorized capital. The opening bid for the shares was set at 8.911 million, yet the auction was nullified due to the absence of applications to participate.

A Member of the Board of Directors of UralPromBank JSC as recently changed his share of the company’s authorized capital. According to the official papers, the share of former Director Konstantin Strukov has gone down from 3.43% of ordinary shares to zero. In May 2006, the same happened to the shares of the bank’s former Chairman Mikhail Parfentiev and his deputy Yuriy Kachalin who used to hold 4.397% and 3.98% of ordinary shares, respectively. Meanwhile, the current Chairman Valeriy Efros raised his share of the authorized capital from 31.826% to 43.996%.

OGK-5, a power generating company, has announced an investment counselor contest in order to issue an extra share holding targeted at attracting more investments, reports the spokesperson for SverdlovEnergo JSC. OGK-5 was the first of the five generating companies to be allowed to pilot the extra issues by RAO UES of Russia, the majority shareholder. Since RAO UES of Russia does not have any settled decisions as to the ways of attracting investments at the moment (and the application deadline is July 5, 2006), OGK-5 is asking its potential investment counselors to present their skills in all

Vanadium Ore Mining and Processing Enterprise JSC of Kachkanar (part of Evraz Group) has considered and introduced a program aimed at enhancing the safety of and upgrading the drilling-and-blasting operations in 2006-2010. According to the company’s spokesperson, the Program provides for the preliminary testing of an electronic blasting system called Ore, for testing and installation of the emulsification unit, and for design and introduction of the modern mix-pump trucks. It also sees to improving the drilling-and-blasting characteristics and replacing the drilling equipment with the better

Snezhinskiy JSC set up the Universal United Bank Management Fund. As the bank’s spokesperson said to UrBC representative, the Fund was registered with the Bank of Russia General Administration in Chelyabinsk Region on June 26, 2006; this is the first fund of such nature set up by a regional bank. Starting July 3, Snezhinskiy JSC will be accepting investments directed to the Fund, with the lower investment limit set at 100,000 RUR (Russian currency only). The commission of the managing body comes to 1% of the current market value of the assets per annum (charged monthly or in case of

On June 28, 2006, the premises of Ural Airlines JSC were visited by Tamir Ori, the executive of Air Safety Division of Israel’s Department of Transport. The Department only allows the carriers to fly to Israel after the airline proves its compliance with the safety regulations. Mr Ori was going to see how safe the Yekaterinburg-Tel Aviv flights of Ural Airlines were; he also gave some training to the company’s employees, examined the level of personnel air safety preparedness, looked at the set of measures aimed at preventing illegal interference in the civil aviation activity and came to the

The Board of Directors of Ural Smithy JSC agreed on the terms of the contract delegating the sole executive powers to Mechel Managing Company Ltd. This contract was based on the decision made at the company’s AGM in April 2006. Former General Director Ramil Zakirov was appointed Managing Director, the company’s spokesperson said to UrBC representative.