20 December 200709:07

Ural Bank for Reconstruction and Development raises number of bank cards by 38%

The Ural Bank for Reconstruction and Development managed to raise the number of its bank cards by 38% in January-November 2007, so these now amount to 389,000 pieces, including 159,000 bank cards given to customers who took a consumer loan from the bank and 213,000 cards attached to individuals’ salary accounts. The spokesperson for the bank says they have a very developed ATM network consisting of 200 machines and 73 cash terminals. In addition, the bank keeps expanding the range of services available through the ATMs. 'Being able to top up one’s account through an ATM is probably the
20 December 200709:05

Ural Treasures Bank celebrates 17th anniversary

Ural Treasures Bank is to celebrate its 17th anniversary this winter. It was set up in 2001 when Asbestbank’s Yekaterinburg subsidiary was renamed into Ural Treasures Bank, with headquarters in Yekaterinburg. According to the Expert Ural magazine (Vol. 40 (303)), Ural Treasures Bank was Ural Region’s 16th largest bank in terms of asset volume and 20th largest bank in terms of ATM turnover in January-June 2007. In addition, it was declared the region’s 25th largest bank in terms of business loan portfolio, 14th largest bank in terms of securities portfolio, 12th largest bank in terms of
19 December 200709:11

MSA a.s. and ALLPORT International Pvt.Ltd. to set up joint venture in India

МSА a.s., the Czech fittings manufacturer and part of ChTPZ Complex Pipe Systems, and ALLPORT International Pvt. Ltd. of India signed an agreement that will enable the parties involved to set up a joint venture called MSA Allport Pvt. Ltd. in India. The new business will largely aim to handle export and import of pipe fittings, pipes and their parts, forgings, and castings, as well as to produce pipe fittings and their components. МSА and ALLPORT are going to get equal shareholdings, with one representative from each company to be appointed one of the BOD members. The new joint venture will
19 December 200709:09

Uralmash Machine Building Corporation buys Uralmash Metallurgical Machinery from Severstal

Uralmash Machine Building Corporation acquired Uralmash Metallurgical Machinery from Severstal. The cost of the transaction is reported to come to $15m. Uralmash Metallurgical Machinery was originally sold by United Machine Building Works (aka OMZ (Obedinennye Mashinostroitelnye Zavody, formerly United Heavy Machinery)) to Severstalmash/Severstal Group. Now, the newly bought business is going to become an integral part of Uralmash Engineering (Uralmashzavod’s daughter enterprise) that already comprises Mining Equipment Division and O&G Drilling Machinery Division. Uralmash Metallurgical
19 December 200709:03

RENOVA Stroy Group gets loan from Sberbank

RENOVA Stroy Group got a loan from Sberbank in order to finance the creation of engineering infrastructure in Yekaterinburg’s future Academic district. The loan scheme, devised by Sberbank’s Ural branch in September 2007, provides for 3.74 billion RUR that will be dispatched to RENOVA in two installments, with the borrower obliged to pay the money back by the end of 2010. The first portion amounts to 2.08 billion RUR, including 720 million RUR allotted for putting up water supply and sewerage systems. RENOVA received the first money tranche on November 30, 2007. The company is planning to
18 December 200709:27

Magnitogorsk Iron & Steel Works sets up subsidiary in Belgorod Region

Magnitogorsk Iron & Steel Works (MMK) set up a subsidiary in Belgorod Region. The decision was made by the company’s Board of Directors on December 14, 2007. The new subsidiary, known as Prioskolskiy Ore Mining and Processing Enterprise, is to be based in the town of Stariy Oskol. The enterprise will be developing Prioskolskiy iron ore deposit, located within 2,000 kilometers of MMK’s headquarters. The deposit has been estimated to contain 45.2 million tons of valuable ore and more than 2 billion tons of unoxidized carbonate-facies iron formation. MMK’s BOD Chairman Viktor Rashnikov and