On October 3, OJSC Metafrax (Gubakha, Perm Krai) reduced its stake in OJSC Karbolit to 65.97% from 82.99%, the company informed.
This deal may be a technical transaction. Earlier, Metafrax was reported to have plans to acquire the Finnish company Dynea's stake in Metadynea and Karbolit, their joint ventures set up to produce resins. Later, Metafrax intended to merge both enterprises and to increase their operating load from 65% to 100%. The deal value would be $30.375 million.
It will be recalled that the shareholders of Metafrax will consider approving the transaction with Kirsis Incorporation at an extraordinary meeting on October 29.
OJSC Metafrax (tax number: 5913001268) is one of the leading manufacturers of methanol, formalin and urotropin in Russia. It accounts for 70% of the Russian formalin market, 75% of the carbamide-formaldehyde concentrate market, and 63% of the polyamide market.
Metafrax's authorized capital is RUB 326.137 million, 326,137 thousand common shares at par value of 1 ruble are issued.
Net profit (IFRS) of OJSC Metafrax for 2011 increased by 10.6% to RUB 950.6 million from RUB 859.5 million for 2010. Revenue increased by 26.1% to RUB 13.236 billion from RUB 10.489 billion, pre-tax profit by 24.2% to RUB 1.247 billion from RUB 1.004 billion.
Net profit (RAS) of OJSC Metafrax for 2011 increased by 46.35% to RUB 1.248 billion from RUB 852.760 million for 2010. Revenue grew by 17.67% to RUB 9.134 billion from RUB 7.762 billion, sales profit by 38.18% to RUB 1.436 billion from RUB 1.039 billion.
"AK&M", 05.10.2012 11:28