Mechel JSC Chairman Igor Zyuzin has increased his share holding up to 52.2% through a number of private transactions that have been done within the framework of the agreement signed by Mr Zyuzin and the company’s General Director Vladimir Yorikh. 23% of the company’s shares are now offered publicly, which is the largest figure among the Russian ore mining and metallurgical companies.

Tube Metallurgical Company JSC released its audit report for 2005 (the report uses International Accounting Standards). According to the report, the company’s profit went up by 42.9% and reached the point of 79.2bn RUR, its net profit came to 7.6bn RUR in 2005. The sales increased by 14.3% and came to 2,842,600 tons of goods; the output comprised 1,963,300 tons (an increase of 5.3% against 2004). The company also raised its seamless tubes shipments due to supplying more oil country tubular goods (OCTG). The sales went up largely due to supplying more wrought pipes (60.9% more of them were

Within the first four months of 2006, the refractory products output of Magnesite Industrial Complex JSC, member of Magnesite Group, exceeded the corresponding figures for the previous year by 3.8% (up to 128,800 tons). In addition, the company’s production of commercial powders came to 253,400 tons (an increase of 10.7% against the results of the first four months of 2005). Within the reported period, the company increased its shipments of refractory goods to Russian consumers by 0.8% compared to the figures for the same period of 2005 (up to 101,300 tons). Shipments of commercial powders

Russian Special-Property Alloys Management Company negotiated a contract of chrome ore deliveries for Klyuchevsky Ferroalloy Works of Dvurechensk, Sverdlovsk Region, and Russian Chrome 1915 of Pervouralsk, Sverdlovsk Region, with Kazchrome International Company. The contract for 2006 is worth $20m. The new proprietor of the 50% shareholding of Russian Chrome, Chrome Chemical Ltd., recessed from the tolling contract of sodium dichromate supplies with Kermas Company of UK that came into effect in May 2005. Therefore, the new chrome provider has been found, the company’s PR-department says.

Stockholders meeting of Koksokhimmontazh-Chelyabinsk CJSC is to be held on June 9, 2006. The agenda contains discussing the company’s financial achievements for 2005, profit and loss distribution, appointment of the company’s auditor for 2006 and election of the company’s Supervisory Board.

Jan Bartoszic, General Director of Czech Nove Energo, visited the region on May 22, reports the spokesperson for Governor Eduard Rossel. Mr Bartoszic met Mr Rossel to discuss the recycling plant proposal; the plant would provide for the burning of solid domestic waste in full compliance with all the environmental provisos. The sinter produced in the process of burning the waste can then be used in the building industry; the other obviously useful by-products are heat and electricity. One boiler can recycle 15 tons of waste per hour, and the whole plant would thus recycle 420,000 tons of waste

The Federal Court of Yekaterinburg in Leninskiy District decided to resume the trial of Yuri Repeta, GD of Noviy Grad CJSC, a building company, and Siyat Sabitov, GD of HydroSpetsStroy Ltd., today. The claim laid by Ural Alliance CJSC concerning the alleged stealing of 54m RUR by the defendants was used as the official ground for taking legal action. The plaintiff claims the defendants have violated Clause 159 (Part 4) of Russian Criminal Code that deals with fraud. The Clause envisages a prison sentence of 5 to 10 years and a fine of up to 10m RUR.

The Board of Directors of Siberian Airlines JSC decided to hold the annual general meeting on June 26, 2006. The list of attendees was compiled according to the date available by May 15, 2006. The points on the agenda include discussion of the annual report, of the annual accounting report, including the P & L distribution for 2005. The shareholders are expected to agree on the P & L distribution for 2005 as well as decide on the issue of declaring, sizing, and payment format of dividends. They will also elect the Board of Directors, the inspection committee, and the company’s Auditor.

Mechel JSC decreased its metallurgical output in 2005 (compared to 2004): the steel production went down by 5% (down to 5,899,000 tons), the iron production by 14% (down to 3,349,000 tons), the rolled metal production by 2% (down to 4,600,000 tons), coke output by 12% (down to 2,589,000 tons), the company’s spokesperson said to UrBC representative.

The net loss of Patra JSC, local Heineken-owned beer maker, was 56 times bigger in 2005 than in 2004 and came to 188.9m RUR against 3.4m in 2004. The company’s output reached the point of $30m. According to Heineken representatives (the company bought 100% of Patra’s shares in August 2005), the losses had to do with the reorganization period, before the downscale and premium brands were actually launched. Last year, Heineken adopted an investment program worth ?4m to ?5m; the program was supposed to make the brewery profitable within 18 to 24 months. ‘We are expecting much better and growing

The Board of Directors of ChelyabEnergoSbyt JSC scheduled the annual meeting for June 28, 2006. The points on the agenda include approving of the company’s annual report, agreeing on the P& L distribution and the payment of dividends for 2005. The shareholders will also elect the Board of Directors, the inspection committee, and the company’s Auditor and decide on the amendments to the company’s Charter.

Chelyabinskiy Zavod Profilirovannogo Stalnogo Nastila JSC, the shaped steel apron maker, will hold general meeting on June 20, 2006. The points on the agenda include assessment of the company’s financial success in 2005, agreeing on the P& L distribution and the payment of dividends for 2005. The shareholders will also elect the Board of Directors, the inspection committee, and the company’s Auditor.

Evraz Group is going to spend $225m to maintain its share in Raspadskaya mine. Raspadskaya Coal Company, the joint proprietor of the mine, is to hand Mezhdurechenskaya Coal Company – 96 and Raspadsky open pit over to the mine. Thus Raspadskaya Coal Company is going to pay for the additional issue of Raspadskaya mine shares. In its turn, Evraz Group is going to pay for the issue in cash at the rate of $225m. Evraz Group will also provide a short-term financial guarantee at the rate of $300m to Raspadskaya Coal Company, the company’s press-release says.

Monetka-Finance Ltd has completed placement of the first series of interest-bearing certificated bonds that mature in 1,092 days since the offering date. The state registration number of the issue is 4-01-36133-R dd April 11, 2006. The placement is registered by the Bank of Russia. The face value of a single bond is 1,000 RUR. By May 18, 2006, 1m bonds had already been placed. Thus, the total nominal value of the placed bonds came to 1bn RUR.

Utair Airline is to deliver heavy and bulky loads to places of oil and gas fields development under a yearly contract with Airborne Energy Solutions Ltd. of Canada. The contract provides for delivery of loads by Mi-26 helicopter, mainly as an external load. ‘Utair Mi-26 helicopter entered the North-American airspace for the first time yesterday in order to operate within Northwest Territories of Canada. The helicopter started from Tyumen and reached its destination within 6 days, flying over Eastern Siberia, Chukot Peninsula and Alaska. Now it is deployed at the town of Yellowknife and has

Beloyarskaya power plant is completing the scheduled equipment inspection and preparing to start the BN-600 power-generating unit. The unit was shut down on March 24, 2006 in order to carry the inspection out and to get the unit refueled. Since then, the reactor of BN-600 was refueled and one of its six sodium-sodium heat exchangers was replaced in order to investigate it within the framework of the Program for Support of Extension of BN-600 Projected Service Life. The scheduled routine maintenance operations, including installation of a modern field system at the electric generator No. 4,

In 2005, Mechel JSC experienced a setback in production of its prime metallurgical products against the figures for 2004. The steel production, for instance, decreased by 5% down to 5.899m tons; the cast iron production decreased by 14% down to 4.6m tons; the coke production decreased by 12% down to 2.589m tons. This was reported by PR-department of Mechel JSC to UrBC representative.

Within 2005, the total amount of tax assessments of Tube Metallurgical Company JSC and of its integrated enterprises came to 10.37bn RUR, which exceeds the corresponding figures for 2004 by 72%. The tax assessments of Seversky Tube Works JSC and Sinarsky Tube Works JSC came to 1.78bn RUR and 2.02bn RUR, respectively. Within 2005, the assessments of Tube Metallurgical Company JSC and of its integrated enterprises to all kinds of state and municipal budgets also went up. The assessments to the federal budget amounted to 5.64bn RUR, the total assessments to the regional and municipal budgets

Mechel JSC has recently made its financial results for 2005 public. According to the company’s PRP-deparmtent, their net profit decreased by 29.8% (down to $381,180,000); the gross operating income decreased by 31.3% (down to $515,728,000). Net avails increased by 4.6% (up to $3.8bn against $3.64bn in 2004). EBITDA decreased by 20% and came to $726.25m against $907.73m. ‘The year 2005 was hard for Mechel because of higher raw materials costs and complicated price patterns that had a negative influence on the profitability of our company,’ indicated Alexey Ivanushkin, CEO of Mechel JSC.

The stockholders meeting of Ural Railway Mechanical Engineering Works JSC (UZhZM), member of Sinara Group, was held on May 18, 2006. The meeting was attended by the stockholders owning 74% of voting shares. The stockholders decided to approve of the company’s annual report and of the accounting statements for 2005. They also approved of some modifications and amendments to the articles of the association. The stockholders decided to pass a dividend for 2005. They also elected the members of the company’s Board of Directors, seven in number, and the inspection commission consisting of three