02 June 2004 17:11
BASHKORTOSTAN TRANSFERS MANAGEMENT OF 3 FIRMS TO UGMK
YEKATERINBURG. June 2 (Interfax) - The government of Bashkortostan this week turned over trust management of
controlling stakes in three companies to Urals Mining and Metallurgical Company (UGMK) for five years, UGMK
reported.
The companies are: Bashkirsky Copper-Sulphur Combine, Buribaevsky GOK and Haibullinskaya Mining Company.
"The agreement will enable us to start implementing investment program measures developed together with the
[autonomous] republic's government to develop nonferrous metallurgy in the region," UGMK General Director
Andrei Kozitsyn said.
UGMK owns assets in over 20 companies located in nine Russian regions. UGMK-Holding manages these companies. The
company controls the production of about 40% of Russia's cathode copper, a fifth of its nonferrous alloy products,
and more than half of the European market's copper powders.
[Interfax] |
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