Nizhneserginskiy plant owes money to state

OAO Nizhneserginskiy Metal Goods Plant/NSMMZ does not owe anything to the federal budget at the moment,’ the plant’s press secretary Olga Zimareva said to UrBC. Now Sverdlovsk Region division of Russia’s Federal Tax Service recently placed NSMMZ (the asset of NLMK Group) on the list of companies that owe over 1 million RUR to the state budget as of September 15, 2010. ‘The data provided by the division may have to do with some disputable sums that are currently under court investigation since it’s not certain the money was charged rightfully,’ Ms Zimareva suggested. According to the plant,

OOO DVI Ural is now on the list of companies that owe over 1 million RUR to the federal budget as of September 15, 2010. The news was announced by Sverdlovsk Region division of Russia’s Federal Tax Service.

OAO Bogoslovskoye Ore Division is now on the list of companies that owe over 1 million RUR to the federal budget as of September 15, 2010. The news was announced by Sverdlovsk Region division of Russia’s Federal Tax Service.

The net loss of Nizhneserginskiy metal goods plant (the asset of Novolipetsk Iron & Steel Works/LNMK) reached 673.384 million RUR in the second quarter of 2010, the company’s financial report (compiled in accordance with the Russian Accounting Standards) states. A quarter earlier, the plant’s net loss came to 1,264,313,000 RUR. ‘The company’s net loss is still the result of overwhelming debt burden,’ NLMK reports. At the same time, the metal goods plant could build up on sales volumes and average prices due to the seasonal surge in demand. This, in its turn, was the cause of a 47%

Moscow’s Ninth Arbitration & Appeals Court supported the ruling of Moscow Arbitration Court which refused to meet the claims of Maxi Group’s minority shareholder Nikolai Maksimov in November 2009. Maksimov was unhappy with the results of an auction where OAO NLMK bought shareholdings of Maxi Group’s daughter enterprises: Nizhneserginskiy metal goods plant (OAO NSMMZ), Uralvtorchermet, and Ural Precision Alloy Plant (ZAO UZPS). The auction took place on June 25, 2009 when Maxi Group had to meet its bail bonds on the earlier loans. NLMK said it needed to buy the shares of OAO NSMMZ,