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Board of Directors of Neftemash approved consolidated IFRS budget for 2012

On February 3, the Board of Directors of OJSC Neftemash approved the company's annual statement, the profit and loss distribution and the dividend payout for 2011.

Also, the Board of Directors approved the list of nominees for membership in the Board of Directors and the revision commission of the company proposed by the shareholders.

OJSC Neftemash (Syzran, Saratov region, tax number: 6325000406) specializes in the production of oilfield equipment and petrochemical facilities. The enterprise occupies an area of 31.5 hectares and employs 600 people. Neftemash has a dedicated railway line connected with the railway station Kashpir.

According to the information and retrieval system DataCapital, net profit (RAS) of Neftemash for 9 months 2011 remained the same as for 9 months 2010 (2.691 million Rub.). Revenue rose 8.3-fold to 67.204 million Rub. from 8.092 million Rub., sales profit decreased by 23.23% to 4.097 million Rub. from 5.337 million Rub.

"AK&M", 08/02/2012


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