‘The company adopted a five-year, full-scale strategic development and investment program in 2007. However, it made sense under the current circumstances to prolong the program until the year 2015. This will make it easier for the enterprise to cope with the workload,’ VSMPO-Avisma’s General Director Mikhail Voevodin said in his interview to Novator. ‘One needs to be very aware of the situation we are in at the moment and of what to expect in the year 2010, 2011, and, possibly, 2012. According to our realistic forecasts, the next three years are going to be more or less the same economically.

Yekaterinburg-based non-ferrous metals processing plant’s Board of Directors decided that the company’s General Director Andrei Fedotov should resign before the end of his term. According to the plant’s official report, he was succeeded by Igor Pokhmelnikov on September 10, 2009. Apart from this, the BOD set up a single executive body to ensure better management of the business.

Sverdlovsk Region Arbitration Court will soon resume hearing of the claim laid by Bank VTB’s Yekaterinburg branch against Pnevmostroymashina and PSM-Gidravlika regarding the latter’s 103,529,527.77-ruble debt. The bank also insists on having the defendants’ mortgaged property arrested. The property in question is made up of a detached building with an adjacent passageway and a total area of 4,266.2 sq m and a 4,982-square-meter land allotment, both of which are located at 8E Sibirskiy Tract 1 km St. in Yekaterinburg. As a matter of fact, Pnevmostroymashina applied for bankruptcy on September

‘Our company has an unresolved issue with Mr. Andrew Welch, who owns a 50% shareholding in Aston Construction Company and Aston Group Management Company. Mr. Welch would like us to buy out his shareholding at a very high price, but we are currently unprepared to accept such an offer. This is why Mr. Welch took a number of measures targeted at persuading us to buy, so to say,’ Aston Construction Company’s Chairman of the Supervisory Board Vyacheslav Trapeznikov said to an UrBC reporter. ‘We did our best to come to a ‘peace settlement’, for instance, by offering to buy out his share at a

The recently united MDM Bank produced its first report (drawn up in accordance with the Russian Accounting Standards). According to this report, the bank’s own funds come to 58.5 billion RUR, thus making it Russia’s seventh largest bank (under the Interfax-CEA rating). MDM Bank is also the country’s eleventh largest bank in terms of net asset volume (this comes to 394 billion RUR). ‘The merger of URSA Bank with MDM Bank resulted in the creation of one of the country’s largest private banks,’ the company’s press service reports. MDM Bank offers its customers the entire range of existing

Global Gaming Expo (GGE)’s claim against Life Group’s Bank24.ru was raised to 199 million RUR. The next court hearing of the case will take place on October 10, 2009. The plaintiff insists on being paid the money the bank allegedly obtained through unjust enrichment; these claims are based on Article 1102 of the Russian Federation Civil Code and Article 129 of the Federal Bankruptcy Act. GGE was founded by Bank24.ru’s former BOD member Alexei Kalinichenko, who dealt in trading on Forex exchange market. His company promised a 30% to 200% annual ROI, with money borrowed from private investors

Sverdlovsk Region Arbitration Court keeps looking into the claim laid by the Moscow Bank of Reconstruction and Development vs. UralOtel; the plaintiff insists on being paid over $3.76m. Following the plaintiff’s demand, UralOtel’s $3,622,885.63 worth of assets was arrested; these assets were represented by a 49% share of a building at 9A Lenin Ave. and a 1,166-square-meter land allotment at 38 Sacco & Vanzetti St. in Yekaterinburg. UralOtel comprises UralOtel at 23 Khomyakov St., Atlantic Hotel, and Yekaterininskaya Hotel.

Raiffeisenbank Supervisory Board’s recent meeting resulted in the decision to close down a number of the bank’s regional subsidiaries. For one, the bank’s Kamskiy branch in Perm and Chelyabinskiy branch in Chelyabinsk will be closed in November and December 2009, while Nizhegorodskiy branch in Nizhniy Novgorod and Yeniseyskiy branch in Krasnoyarsk will stop working for the months of December and January.

‘At the close of the tender, Ford short-listed two companies that may become the car manufacturer’s Yekaterinburg-based dealers, with show rooms in the eastern and the northern parts of the city,’ Ford Motor Company’s PR Director Ekaterina Kulinenko said to an UrBC reporter. At the moment, Ford only has one official dealer in Yekaterinburg, that is, Avtoland Holding. ‘We’ve already signed a protocol of intent with Okami, so now we are negotiating for a dealer contract. As for Avtosan, our talks are focused on the protocol of intent for the time being,’ Ms Kulinenko added.

Sverdlovsk Region’s division of the Federal Antimonopoly Service instituted legal proceedings against Ural-Avstro-Invest, Nordus Hotel, a number of Euro-Asian Management Company’s executives, ZAO Intensivnik (Premier Hotel and City-Hotel), Hotel Yekaterinburg-Tsentralniy, Grand Avenue Hotel, and Iset Hotel, with charges based on Article 11 (part 1, paragraph 1) of the Competition Protection Act, the spokesperson for the division reports. The companies in question are suspected of colluding on June 1-30 2009 (which covers the days of the Shanghai Cooperation Organization and BRIC summits in

Ural Airlines will start operating its new Samara-Dubai-Samara flights on October 27, 2009. These direct flights will be operated using an A320 aircraft every Tuesday. The plane takes off in Samara at 2:00 PM and arrives in Dubai at 6:40 PM. The return flight’s departure time is 8:10 PM; the plane lands in Samara at 12:55 AM. The departure and arrival time is local. This means that, thanks to Ural Airlines’ interline agreements with Emirates, Hainan Airlines, and Air China, the dwellers of Samara can now fly to Thailand, Malaysia, China, Singapore, the Maldives, Oman, Qatar, Bahrain, and Sri

The General Director of Ural Railway Machine-Building Plant and former CEO Pnevmostroymashina Dmitriy Yakshin was killed, as the authorities insist, in a firearms accident last weekend. Dmitriy Yakshin was appointed the plant’s GD on May 15, 2009. The funeral is to take place on September 9, 2009.

Rus-Bank-Ural was given the 213th position in RIA RosBusinessConsulting’s rating of Russia’s largest banks as of July 1, 2009. This means the bank was promoted from its 211th position on April 1, 2009, their press officer reports.

Sverdlovsk Region Arbitration Court is to look into the claim laid by Bank Severnaya Kazna against Mayak Corporation and Uralinvesttsentr on September 8, 2009. The plaintiff insists on being paid 50,350,624.66 RUR worth of the defendants’ debts and on having their mortgaged property arrested. The property in question is Uralinvesttsentr’s detached two-storey building with a number of extensions a total area of 11,422.4 sq m; the company also has some tenant rights over a 148,190-square-meter land allotment whose opening price has been determined at 63,801,000 RUR. Both the building and the

The net profit of Bank Yekaterinburg plunged by 93.4% in the second quarter of 2009, from 35.64 million RUR in January-March 2009 to 2.35 million RUR in April-June 2009. The bank explains this had to do with greater interest payments due to resources growing more expensive; additionally, the company had to direct more money to the possible loss compensation nd.

The tubes and pipes manufacturer produced 83,210 tons of tubular goods in January-August 2009, which was 44.1% less than in the eight months of 2008, Uraltrubprom’s Marketing Department reports. The company’s oil country tubular goods output went down to 48,619 tons, which signified a 10.7% decrease in production; the shaped tubes output declined by 2.73 times and only amounted to 34,591 tons in the eight months of 2009. The plant delivered 84,155 tons of tubular goods to consumers in January-August 2009, which was 42.6% less than a year earlier. This figure included 48,096 tons of oil

Sverdlovsk Region Arbitration Court keeps looking into the numerous claims laid against Uralstalkonstruktsiya Trust’s General Contractor Projects Administration, the spokesperson for the court says. On August 5, 2009, the court considered the claim laid by PromBytPol; the plaintiff insisted on being paid 1,857,257.24 RUR by Uralstalkonstruktsiya Trust’s General Contractor Projects Administration. In the end, the hearing of the case was put off until September 24, 2009. In fact, another claim was processed as early as July 6, 2009; this claim was laid against the defendant by Ural Trade &

Ural Airlines will keep operating scheduled flights to Beijing while the People’s Republic of China revels in celebrating its 60th anniversary. The flights will be operated on Wednesdays and Sundays as usual. Meanwhile, Air China canceled its Beijing-Yekaterinburg flights every Monday this September, namely, the ones that had to be operated on September 7, 14, 21, and 28. The return flights to Beijing on September 8, 15, 22, and 29 have also been called off. The decision was taken due to Chinese public holidays and upon the Chinese Government’s request. Ural Airlines’ non-stop flight on an A

It has been reported to UralBusinessConsulting that Vladimir Frolov, a well-known Yekaterinburg-based businessman, has probably made up his mind as to what bank to cooperate with in order to work on his new project. Bank Severnaya Kazna’s former Chairman declared as early as May 2009 that he was going to set up a new bank early in the fall; this bank was to become a foundation for ‘the world’s best online bank’. The new bank’s launch deadline, set by Frolov himself, hits on September 15, 2009, that is, in just one week, but the entrepreneur still hasn’t announced either the name of the bank

Sverdlovsk Region Arbitration Court is to consider Corus’s bankruptcy application on August 7, 2009. The trustee in bankruptcy will probably be selected among the members of Ural Self-Regulatory Organization of Trustees in Bankruptcy Noncommercial Partnership. Corus, a member of CORIN Holding, deals in design and construction of civilian and medical facilities. According to the data provided by the company, they used to design about 100,000 sq m worth of buildings every year.