Proxyship of Ship-Building Bank Ltd. has recently been set up in Yekaterinburg and can now be visited at 3 Chernyshevskiy St. The office caters for the first-time clients and is aimed at attracting both legal entities and natural persons, offering its services, keeping the clients informed about the bank’s policy, provisos and costs of these services, and giving advice on transferring payments using the Sbank.ru money order system. The Bank currently has subsidiaries in Saint Petersburg, Moscow Region (Barvikha), and a crediting agency in Nizhniy Novgorod.

Board of Directors of Metallurgical Industrial Complex of Nizhny Tagil (NTMK JSC) came up with the decision to hold a special stockholders meeting via absentee voting. Board of Directors set June 29, 2006 as the deadline for submitting the absentee ballots for the extraordinary meeting. The agenda of the meeting contains discussion of the declaration of dividends for the first quarter of 2006.

Yekaterinburg fat-and-oil industrial complex held a stockholders meeting on May 24, 2006. The stockholders approved of the company’s annual report and of accounting statements for 2005, including P & L account. AKG RBS CJSC of Moscow was appointed the company’s auditor. The stockholders also decided to declare the dividend of 169.83 RUR per share. They elected the company’s Board of Directors consisting of seven people and the inspection commission consisting of three people.

The stockholders meeting of Klyuchevsk Ferroalloy Works JSC of Dvurechensk, Sverdlovsk Region, was held on May 24, 2006. The stockholders approved of the company’s annual report for 2005 and elected a new Board of Directors. The rearrangement of the company’s governing body is due to the appointment of Mr S. Gilvarg President of Russian Special-Property Alloys Management Company JSC. On May 24, 2006, the stockholders of Klyuchevsk Ferroalloy Works decided to delegate the authority of the sole executive body of their company to Russian Special-Property Alloys. The proprietors of Klyuchevskaya

Within the first quarter of 2006, Ufaleynickel JSC produced 3,500 tons of nickel and 605 tons of cobalt. The company’s income from its principal economic activity went up by 210.3% against the first quarter of 2005. This is the result of the increase in the company’s nickel production and the decrease in its prime cost due to reduction of coke price, the company’s press release says. Within the first quarter of 2006, the company’s proceeds from sales of goods, works and services that belong to the company’s primary economic activity increased by 765,938,000 RUR compared to the figures for the

Oktyabrskiy Court of Yekaterinburg is finally through with the trial of former GD of Transglobal Airline CJSC who was charged with fraud connected with taking excessive advantage of his position in the company. According to the data of Russian Ministry of Foreign Affairs Court of Inquiry, the accused offered Omsk Airport JSC to set up the ground handling of the aircraft allegedly used by the carrier in October 2004. Yet he never mentioned that Transglobal actually possessed no aircraft at all and had no license entitling the company to service the passengers. Omsk Airport executives signed

Joint-Stock Bank Gold Platinum Bank JSC officially ceased to exist as a legal entity. It closed down after a merger with Mechel-Bank JSC of Chelyabinsk. In accordance with Russian legal regulations, this fact was registered in the State Register of Legal Entities. This was reported by PR-department of Mechel-Bank. Thus, Mechel-Bank has become the assignee of Gold Platinum Bank in all its liabilities to creditors and debtors. Due to the merger, the bank’s authorized capital has come to 306.3m RUR whereas its owned capital has come to 715.796m RUR. Mechel-Bank also inherited an additional

Vysokogorsky ore mining and processing enterprise, member of Evraz Group, has put into use the iron ore resources of the Centralniy open pit located in the town of Kushva. According to the company’s PR-department, putting a new production unit into operation is an important step. Within the last few months, the company increased its production output significantly against the scheduled annual output figures. To avoid using imported ore in the furnace charge, the company decided to use ore of the Centralniy open pit of Kushva town. ‘Magnetite has been dug in Kushva since 1735. The Centralniy

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.