The Board of Directors of AKSI JSC scheduled the annual shareholder meeting for June 9, 2006. The points on the agenda include approval of the annual reports, profit distribution (including the declaration of dividends), electing the Board Members, the inspection committee, and the company’s Auditor.

European Aerospace and Defense Syndicate (EADS, Munich-based producer of civil aircrafts) signed a long-term agreement on supplying titanium produce for Airbus aircrafts production with VSMPO-AVISMA Corporation JSC today. The contract is valid until 2011 and provides for the annual increase of supply in accordance with the needs of Airbus production. The total cost of the project is estimated to come to $1bn within five years, but this figure might rise significantly over the time. VSMPO-AVISMA Corporation will keep on supplying Airbus with the regular billets such as sticks, sheets, and

Market capitalization of Utair Airlines came to $180m in May 2006. According to the company’s spokesperson, their shares have been going up significantly since the beginning of the year. Thus, the price rose from 5.88 RUR per share on February 15 to 8.5 RUR on May 11. These results look even more impressive given that only two carriers (Aeroflot-Russian Airlines and Utair) are currently offering their shares on the Russian stock market. The shares are sold as TMAT on RTS stock exchange and as UTAR on Moscow Interbank Currency Exchange. One can also acquire the company’s shares in New York,

The Board of Directors of VSMPO-AVISMA Corporation JSC met on May 12 to schedule the annual shareholder meeting for June 28, 2006. The points on the agenda include agreeing on the annual report and the accounting report for 2005, profit distribution, electing the General Director, the Board of Directors, the Inspection Committee, and the company’s Auditor. The Board of Directors suggested that the shareholders declare the dividend of 37.88 RUR per share, which is 30% greater than in 2004. Among the proffered Board Members are Vyacheslav Bresht, Vasiliy Besedin, Dennis Kelly, Nikolay Melnikov,

Sverdlovsk Region subsidiary of TGK-9 is going to carry out the first stages of high-pressure pipelines testing on May 16 to May 18, 2006 in order to start preparing for the next heating season. The block pipelines will stop supplying hot water and will be tested from 9 AM to 6 PM on May 16, the backbone pipelines will be tested from midnight to 6 AM on May 17 and 18; hot water will still be available. The plan provides for seven stages of testing altogether, with everything completed by August 23.

Regional Duma Deputy and UralArm CJSC shareholder Vladimir Taskayev confirms investigative action concerning his company. ‘The company premises were searched on Friday night; I believe the whole thing has political lining,’ Mr Taskayev said.

‘The company is renovating a high-voltage line to the west of the city at the moment,’ reports their spokesperson. This is going to last until the end of the year, and in the meantime, the areas of Shirokaya Rechka, Medniy, Polovinka, Centralniy and some garden patches will have no electricity. The physiotherapy clinic and the hospital near Pond Glukhoy will have to use their own diesel generators.

Subsidiary of City Mortgage Bank Ltd. opened in Yekaterinburg on May 16, 2006. ‘Before entering the new regional market, we normally look at its development potential and the turnover of transactions. Yekaterinburg is currently one of Russia’s leading building industry areas, which is a very important factor for a bank like ours. It is here that we will introduce the ruble mortgage schemes; besides, we’ll be able to provide the most convenient kinds of loans,’ President Nikolai Schitov said at the press conference. ‘Our loan portfolio comes to over $120m, and we are planning on giving $80m

Two new Belarus-made dumpers with the capacity of 30 tons are now used in No 7 haulage shop servicing Sheregeshskiy mine of Kemerov Region. According to Evrazruda JSC spokesperson, these dumpers replaced the worn-out vehicles in the process of transporting chip from the grinding and concentrating mill onto the spoil bank. There are a total of five 30-ton dumpers used in the process 24/7; all of them are quite new (two were bought in 2002, one in 2005, the other two – a few days ago). Each dumper makes about 17 trips per turn; the chip is used for filling exhausted mines.

Pervouralskiy Novovtrubniy Zavod JSC (Pervouralsk tube and pipe plant) summed up its achievements in April 2006. According to their spokesperson, within the four months of 2006, the plant has shipped 212,100 tons of goods, which is 6% less than a year earlier. In April alone, 54,000 tons of goods (21% less than in April 2005) were shipped to the buyers. The spokesperson explained that this was due to the overhaul of mill 160 that had been out of operation throughout the whole month.

Ural Turbine Works CJSC (part of Renova Group) will take part in overhaul and updating of turbines and boilers at Gyandjinskaya heating plant in Azerbaijan in 2006-2007. The corresponding agreement has been reached by the company representatives and the management of Azeraluminum, the proprietor of the heating plant. Gyandjinskaya heating plant deals in argil production; the overhaul procedures will include restoration of the original capacity of two PR-25 UTW turbines that have been in operation for about 40 years. They are by now naturally worn out, which means the turbines produce less gas

In April 2006, the company produced 464.960m worth of goods, including 153 engineer vehicles worth 278.827m RUR (24 tractors, 10 pipelayers, 117 rippers/ bulldozers). The company shipped 550,165m RUR worth of goods, which only falls short of the plan by .2%. Uraltruck Ltd. sold 143 engineer vehicles worth 307.520m RUR (98.4% of the planned figures), including 136 tractors and T-10 units, and 5 rippers/ bulldozers, the company’s spokesperson said to UrBC representative.

Management of Kluychevsk ferroalloy works JSC decided to hold the annual meeting on May 24, 2006. The points on the agenda include confirmation of the annual report and electing the Board members. Besides, the shareholders will have to consider full delegation of management to Russian Special Alloys, a managing company. Kluychevsk Concentrating Mill Ltd. and Kluychevsk Marble and Granite Works Ltd. may also be soon managed by the above-mentioned company. The same issue of delegation will be considered by the shareholders of Russian Chrome 1915 (Pervouralsk, Sverdlovsk Region) on June 30,

Evrazruda JSC completed overhaul of mine manufacturing equipment and grinding and mineral processing equipment in its Abaza subsidiary in Khakasia. According to the company’s spokesperson, they were not able to produce anything for 9 days, but the shipments of iron-ore concentrate met all the deadlines due to the earlier stocks. The overhaul included pile-driving block welding deposition in Glavniy groove, replacement of skip supports, laying the extra 185-meter long dewatering pipeline, renovation of the jawbreaker and of the car dumper. Besides, the company employees repaired the grinding

The annual shareholder meeting on April 25, 2006 resulted in the decision to pass a dividend for 2005. The shareholders also approved of the annual report, of the annual accounting report, elected the Board of Directors and the inspection committee as well as the company’s Auditor (Economics and Finance Ltd.)

UIK Bank Ltd. assessed its achievements in the first quarter of 2006. The bank’s assets came to 606.9m RUR, the net loan debt amounted to 475.3m RUR (an increase of 50%). 393.4m RUR were invested in the form of savings and deposits, the net profit came to 1.3m RUR. The bank capital reached the figure of 70.9m RUR.

Stockholders’ meeting of Makfa JSC was held on May 10, 2006. The stockholders approved of the company’s annual report for 2005 and the profit and loss distribution. The company’s net avails went down by 60,456,000 RUR (1.4%); the total prime cost of the sold production went down by 161,000,126,000 RUR. V. Belousov, D. Meshkov, V. Yurevich, N. Yurevich and G. Yefimova were elected the company’s Board of Directors. The stockholders also elected members of the company’s inspection commission and approved of Audit-Classic CJSC as the auditor of the Association. They approved of Makfa Management

A stockholder meeting of Trubodetal JSC is to be held on May 26, 2006. The agenda contains confirmation of the company’s annual report, profit distribution, election of members of the company’s Board of Directors and inspection commission. The stockholders will also address the question of approving of potentially beneficial transactions between Trubodetal JSC and OMK-Stal Ltd. The transactions could amount to up to 1.5b RUR and 1b RUR, respectively.

Sotsialnaya Zaschita Starosti (Social Protection of the Elderly) non-governmental pension fund and Renessans Capital Management Company Ltd. signed the superannuation funds management contract. This fact was reported to UrBC representative by a spokesperson for the Fund. According to their CEO, Igor Skrypkin, the offer of Renessans Capital meets the strategic objectives of the pension fund, primarily aimed at conserving pension contributions of private persons, and hedging them against the inflation. To date, the total investments of the pension fund trustors amounts to 120m RUR. Within the

Within the first quarter of 2006, the sales of Chelyabenergosbyt JSC, Chelyabinsk regional electricity supplier, came to 98.5% of the company’s sales target. The same figure for the previous year amounted to 97.4%. During the three months the company’s accounts receivable grew by 77.1m RUR. According to PR-department of Chelyabenergosbyt, some heavy electricity users keep their debts to the company unpaid during a number of years. The total amount of indebtedness of the Chelyabinsk Region housing and communal services comes to 141.7m RUR, including 38.6m RUR of debts made by Oblkommunenergo,