The reorganization of OGK-1 JSC (First Power Generating Company) was completed on October 2, 2006. As a result of the reorganization, the five joint-stock electric power stations integrated into First Generating Company became its branches. The first was State District Power Plant of Verkhny Tagil (it acquired the status of OGK-1 branch in the summer of 2005) On October 2, 2006 Tyumen Regional Department of Russian Federal Tax Service registered the discontinuance of operating of the join-stock power stations due to reorganization resulting in affiliation to another business. The shares of

Subdivisions of IES-Multiutilities Ltd, the heat energy supplier for 15 towns of Sverdlovsk Region, have received certificates of power equipment readiness for winter service. This event was reported by the company’s PR-department. The inspection board consisting of Sverdlovsk Power Utilities JSC, Regional Heat Power Supplier Company Ltd, Rostekhnadzor and local administrations representatives checked the equipment survivability, its ability to carry extra load during the heat deficit period as well as the personnel awareness of the safety measures and its emergency operation skills. To date,

The Federal Antimonopoly Service in Sverdlovsk Region found TechnoSila guilty of violating point 15 of the federal law on advertising. The company had launched an inadequate advertisement (buy one and get one free). Two natural persons who never got the presents they had been promised initiated the legal action against the company. The Service is currently considering the way of punishment. TechnoSila may experience anything between being prohibited to advertise and having to pay a fine.

On October 2, 2006, Ural Turbine Works CJSC (part of Renova Group) started the new turbine blades high-speed processing sector. The company management chose the specialized machines produced by Lichty, Shaublin and Koher of Switzerland as the main manufacturing equipment of the sector. The machines display high-level technology processing and have proved to be effective while employed by the world’s leading power equipment and turbine blade manufacturers. The introduction of the machines will result in speeding up the production of turbine blades of an innovative design, reducing the duration

The Board of Directors of United Machine Building Works considered and approved of the resignation of General Director Sergey Lipskiy due to expiration of contract on September 29, 2006. Deputy General Director and Director of OMZ-Atom division Evgeniy D. Sergeev was appointed acting GD. Mr Lipskiy joined the company in 2003 in the capacity of the Executive Director and was promoted to General Director in 2004. Under his supervision, the company’s top management was able to reorganize and improve the production process in 2004-2005; the works also decided on its main strategic programs,

ComEnergo, the local power supplier, has been certifying 24 of its subsidiaries located in Sverdlovsk Region, reports the spokesperson for IES-Multiutilities Ltd. The company used to have the certificates signed by the company’s leading technicians last year; this year, the readiness certificates must be signed by the mayor of the city or town where the subsidiary is located.

CHELINDBANK JSC and European Bank for Reconstruction and Development signed a 140m RUR credit agreement for the term of 7 years. The funds attracted by CHELINDBANK are to be invested in mortgage lending development. The agreement represents another step in active cooperation of EBRD and CHELINDBANK that began in 2002 within the framework of EBRD small business support program, said the spokesperson for CHELINDBANK to UrBC representative. ‘We hope that the signing of the agreement will open up the era of effective cooperation between our banks in the field of mortgage lending,’ said GD of

Two subsidiaries of ChelyabEnergo, the regional power supplier, (Chelyabinsk and Central Electrical Networks) were the first to obtain documents that certify their readiness for the coming winter season. A special commission, headed by the company’s top managers, had been checking the degree of preparedness of the subsidiaries in terms of how well they would operate in low temperature, how smoothly the dispatching could be performed, whether there were enough employees and supplies and so on for two weeks. The certificates awarded to the subsidiaries prove that they have fully met all the