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Shareholders of Ufaleynickel terminated power of managing company ahead of time

At their EGM held on January 11, the shareholders of OJSC Ufaleynickel made a decision to terminate the authority of Industrial Metallurgical Holding Management Company LLC to be its sole executive body, ahead of time, the enterprise informed.

The agreement with Industrial Metallurgical has been terminated since January 11.

Ufaleynickel (tax number: 7402001769) develops a nickel ore deposit near Cheremshanskaya Mountain not far from Verkhniy Ufaley. Since July 1, 2006. It has been part of the Industrial Metallurgical Holding. The company's authorized capital of 2.69 million Rub. is represented by 26,902,550 common shares at par value 0.1 Rub. 97.47% of its shares belong to OJSC KOKS.

The enterprise ranks second nickel producer in Russia with the production volume about 5.4% of the all-Russian output. It is an integrated complex employing the full production scheme from the ore extraction to the finished products.

Net loss (RAS) of OJSC Ufaleynickel for H1 2011 was 199.207 million Rub. against a profit of 84.165 million Rub. for the same period in 2010. Revenue grew by 11.14% to 4.596 billion Rub. from 4.135 billion Rub., sales loss was 130.608 million Rub. against a profit of 119.130 million Rub. in 2010.

"AK&M", 17/01/2012


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