Russia's Federal Antimonopoly Service granted the application of OJSC Tulachermet for the acquisition of 48.9% in Chermet-Media LLC, the regulatory body informed.
Following this transaction, Tulachermet will own 100% of Chermet-Media's authorized capital.
Tulachermet (tax number: 7105008031) is one of enterprises of the Russian metallurgy producing commercial cast-iron accounting for over 40% of sales of domestic cast-iron in the global market, delivering its goods to the CIS countries as well as metallurgical and machine-building companies of Western Europe, America and Asia.
The authorized capital of Tulachermet is RUB 10 million represented by 962,500 common and 37,500 preferred shares at par value of 10 rubles. The enterprise is controlled by UK Promyshlenno-Metallurgicheskiy Holding (English: Industrial Metallurgical Holding – Management Company) whose major shareholder is Boris Zubitskiy.
According to the information and retrieval system DataCapital, net loss (RAS) of Tulachermet for January-September 2012 was RUB 469.601 million against a profit of RUB 42.969 million for 9 months 2011. Revenue fell by 12.42% to RUB 20.183 billion from RUB 23.044 billion, sales loss was RUB 500.457 million against a profit of RUB 496.776 million, loss before tax was RUB 562.56 million against a profit of RUB 66.557 million.