The plant made 1.6bn RUR in terms of sales revenues, which exceeds the figures fir 2004 by 14%; its profit came to 85 million RUR, which is 45% better than a year earlier; the company also managed to reduce its account payable by 240 million RUR, so the figure now stands at 80 million RUR. The plant currently produces 16,500 tons of meat produce a year, given the annual production capacity of some 30,000 tons, reports the company’s spokesperson.

Local division of Rospotrebnadzor, the consumer goods monitoring service, has recently carried out the investigation of Home Credit and Finance Bank Ltd. that revealed a number of instances when consumers’ rights were being violated in the course of signing the loan agreements. ‘The results of the investigation make it clear that the bank only gives its clients consumer loans when they pay for the opening and servicing of the bank account. More often than not, the sum a client has to pay is greater than that compiled of the loan interest payments,’ the spokesperson for the Consumer Rights

Mechel Bank JSC held extraordinary general meeting last Friday. The meeting resulted in electing the new Board of Directors, including Sergey Komyakov (Chairman), Vladimir Shulgin, Elena Nesterova, Sergey Baklanov, Irina Lukyanetz, Konstantin Pyzhov, and Vladimir Lavrov. The Board welcomed two new members, who joined the company due to the merger of Gold Platinum Bank with Mechel Bank, explained the bank’s spokesperson. Mechel Bank of Chelyabinsk completed its restructuring process in May 2006 when it merged with Gold Platinum Bank of Yekaterinburg. The joint authroised capital was estimated

The Board of Directors of Zinc Plant of Chelyabinsk elected Sergey Moiseev Chairman in the course of their last meeting. Says former Chairman Alexander Fedorov: ‘I am positive that this decision will promote further growth of the Board’s efficiency, although the Board Members are already highly professional and competent, which can be proved by the company’s success. Mr Moiseev has been part of our Board since 2004, and he knows all the aspects of its activity very closely; he is also fully aware of the current trends in our industrial field. Mr Moiseev is very well educated; he received his

According to the Central Bank of Russia, the volume of loans given by UralTransBank to sole traders for a term of up to 30 days has gone down by 26% (from 44.096 million to 32.419 million RUR) throughout January to July 2006.

Governor of Sverdlovsk Region Eduard Rossel met Ambassador Extraordinary and Plenipotentiary of the Kingdom of Denmark to Russia Per Karlsen in the government house today. Mr Rossel spoke on the growth in the fields of regional industry, wholesale and retail trade, and agriculture throughout the year. He also mentioned the ongoing renovation of the regional metallurgical, power engineering, and machine building enterprises. According to the Governor, the investments in Sverdlovsk Region businesses went up by 28% compared to 2005 and will have come to $5bn by the end of the year. A large

Evrasruda JSC (part of Evraz Group) gives overhaul to transporter cranes in its Abagurskiy subsidiary. No. 4 transporter crane was put out of operation on August 21, 2006 and will only be put back on track in twenty days, after all the defects in the metalwork have been eliminated. The overhaul of No. 6 transporter crane located in the processing shop was completed last week; the repairs included patching the cracks in the metalwork that had emerged due to the extensive use of the device. No. 3 transporter crane was given a 25-day overhaul in July, which consisted of patching the cracks,

On August 21, 2006, Zinc Plant of Chelyabinsk JSC held extraordinary general meeting. The stockholders defined the limit of the company’s nominal book-entry shares of common stock offered at 50m shares with face value 1 RUR each, so that the total value comes to 50m RUR. This decision is reported in the company’s release. The stockholders also approved of the new version of the company’s Charter, of the corporate code of behavior, and of some other documents.

On August 18, 2006, Federal Financial Markets Service of Russia released the notification of closing down Energy Fund closed unit investment trust managed by Eurogreen Management Company (part of Eurogreen Investments and Financial Company). The PR-department of Federal Financial Markets Service reported that this was effected by the fact that before the end of the trust formation, the value of its property fell short of the minimum value defined by the state rules for unit investments trusts formation. Due to the resources (property) inadequacy, the trust had to be reformed. This was

Board of Directors of Yuzhuralconditer JSC made a decision to hold extraordinary general meeting. The stockholders will address the question of approval of an important transaction, namely the contract of Merendinqi automated sponge cake production line supply negotiated between the Association and CB CB S.r. l. of Italy. In addition, the stockholders are to decide on the contract with Alpha-Bank JSC. The contract concerns giving the company a credit line in foreign currency.

Metallurgical Industrial Complex of Nizhniy Tagil JSC (part of Evraz Group) spent approximately two million RUR on supporting the local educational establishments they patronize. Thanks to the Complex, sixteen schools have been able to have some repairs done; they also bought new equipment, furniture, sporting goods and office supplies. Some of them had kitchen and medical facilities replaced and new electric wiring introduced as well. The Complex has been cooperating with the schools of Tagilstroyevskiy district of Nizhniy Tagil for a few scores of years. The company executives traditionally

Karpinsk Electric Machine Industry Works of Karpinsk, Sverdlovsk Region, left FinPromCo United Works on August 10, 2006, when the corresponding share-selling agreement was signed with the investor. ‘The plant now belongs to the investor interested in high-voltage produce that we have always specialized in. We sold the shares of Uralburmash JSC at the end of 2005, and in July, the new proprietors of the company presented Governor Eduard Rossel with the technical upgrading plan with over 1 billion RUR worth of investments. We agreed to sell the shares of the plant when we realized that these

Yekaterinburg Electrical Network Company JSChas been preparing all the equipment for the maximum workload in the upcoming heating season, reports the company’s spokesperson. According to the data concerning Yekaterinburg Electrical Network Company JSC presented by UralEnergosetProject Institute, the maximum figure for the winter of 20052006 came to 916 megawatt (809 megawatt in December 2005). The approximate heating load is estimated at 100 megawatt, with the load increase coming to 10.5% in 2005/2006.

Standard & Poor’s, an international rating agency, has recently annulled the corporate management rating of UralSvyazInform, the regional mobile operator, reports the agency’s spokesperson. ‘We saw some corporate management mechanism improvements last year, for example, the company’s publishing its report on IAS prior to the annual general meeting and doing a tender on auditing services. Besides, the company managed to deal with the controversial influence of SvyazInvest, the state-controlled majority shareholder. Yet all of these improvements are outweighed by the decrease in the number

Former Director of Municipal Environmental Center Viktor Kulakov was appointed Director of Chelyabinsk Region Lead after this nominee was approved by Chelyabinsk Region Government today. The Government also agreed on the voluntary resignation of former Director of Chelyabinsk Region Lead Alexander Semerkin.

Metallurgical Works of Zlatoust assessed the results of its industrial activity in July 2006. Within the last month, the enterprise produced 54,212 tons of steel and 34,854 tons of rolled metal. 34,305 tons of the company’s production output were shipped to consumers.

Uglemetbank JSC has recorded a change in the authorized capital share (in the common stock of the association) of one of the bank shareholders. The change was effected by BASK Insurance Company JSC that has recently made two bargains changing its shareholding in equity stock of Uglemetbank JSC. Thus, on August 8, 2006, the company’s share in the authorized capital of Uglemetbank went down from 19.99% to 16.24%, and a week later, on August 15, 2006, the share went up to 17.56%. These changes are recorded in the releases of the bank. This has been the third change in the allocation of

Zinc Plant of Chelyabinsk JSC, member of Chelyabinsk Tube Rolling Group, was granted quality management certificate of adequacy to ISO 9001-2000 requirements and environmental management certificate of adequacy to ISO 14001-2004 requirements. The certificates are issued by the competent international BVQI certification body on the basis of auditing of the company’s integrated management system. The certification was preceded by a number of time- and labor-consuming efforts by the company specialists introducing the integrated management system complying with the international standards. BVQI

Abakansky subsidiary of Evrazruda JSC (part of Evraz Group) has completed advancing of Kletyevoy groove air channel. The channel is designed for air delivery from the venting and air heating unit that is under construction on the surface to the floors below +65 meters and to the underground crushing complex at the floor of -95 meters. Throughout November 2005 to August 2006, specialists of the stone drivages sector No. 21worked through about 40 meters of excavations from the surface to the Kletyevoy groove breakoff. The air channel was being advanced under difficult mining and geological

On August 17, 2006, the annular heating furnace No. 2 was decommissioned at the wheel tread shop of Integrated Metallurgical Complex of Nizhny Tagil JSC (NTMK JSC, part of Evraz Group). The furnace was heating the billets up before employing them in the wheel manufacturing. The unit had been functioning at the shop over 50 years and was outdated. Within August 17, 2006 the gas supply was cut off, all the service lines were disconnected from the furnace and the sliding shutters were closed. The furnace decommissioning was a scheduled step of the corporate reconstruction program. The