26 May 2004 04:54
ZSMK steel mill to waive dividends
MOSCOW. May 26 (Interfax) - Shareholders of the EvrazHolding's West Siberian Metallurgical Combine (ZSMK), a
major steel producer from the Kemerovo region, voted to waive dividends at their AGM last week, the company said in an
official statement on May 26.
And they voted in favor of ZSMK acting as guarantor for $300
million in obligations undertaken by EvrazHolding's subsidiary
The shareholders approved the 2003 annual report, book-keeping report and profits distribution, elected a board of
nine directors and an audit commission, and named Financial and Book-keeping Consultants (FBC) as external auditor.
EvrazSecurities S.A.
ZSMK's net profits audited to RAS grew 530% to 4.752 billion rubles and revenues were up 45.6% to 32.56 billion
rubles in 2003.
Output rose for all products compared with 2002, including 6% to 4.9 million tonnes of pig iron, 4% to 5.9 million
tonnes of crude steel and 6% to 5.3 million tonnes of market roll. [RU ASIA EUROPE EEU EMRG STL MET DIV RES] PR
[Interfax] |
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