01 June 2004 02:02
New Georgian economics minister to resign as chair of Russian engineering firm
Moscow, 1 June: Kakha Bendukidze, who was recently appointed as Georgia's economics minister, told reporters
today that he plans to resign from the post of chairman of Russia's largest engineering company United
Machine-Building Plants (Uralmash-Izhora Group), in which he holds a 25.93 per cent stake.
He plans to transfer the stake to trust management, but has not yet decided to whom, he noted.
He did not exclude the possibility of selling the stake, adding that he plans to receive the highest possible price
for it.
United Machine-Building Plants is in the process of a merger with Russia's industrial holding Silovyye Mashiny
(Power Machines) to become United Machine-Building Plants-Power Machines. The merger is due to be completed by the end
of the year, with Bendukidze controlling about 13 per cent in the new company. [Passage omitted]
[ITAR-TASS news agency, Moscow, in Russian 1438 gmt 1 Jun 04 quoted Bendukidze as saying that "it is rather
improper to be an official of another country, and be head of board of directors of a Russian company".]
[Prime-TASS news agency] |
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