Game rulesStillwater Mining are lost by a rating from - for the shareholder
On Friday rating agency Moody ` s has lowered the basic rating American Stillwater Mining Company which controlling interest belongs to joint-stock company “ GMK ` Norilsk nickel ` “ with Ba2 to Ba3, and a rating of bonds - with Ba3 to Â1 also has appropriated a rating of Va3 under planned provided credits Stillwater. Rating fall is caused by the remaining high level of industrial expenses worsening within last four years by a financial condition of the company, and also refusal “ Norilsk nickel “ and Stillwater to enter into earlier planned agreement on metals of platinum group according to which the Russian company should deliver Stillwater not less than 1 million ounces of a palladium for sale annually. Moody ` s notices that it forces to see in “ Nornikele “ the competitor, instead of strategic partner Stillwater. “ We are surprised by decision Moody ` s to lower our rating, - chief executive Stillwater Greg Uing has declared. - Ourselves asked agency to analyse our indicators as it seemed to us that for last year we have achieved serious successes “. Also mister Uing has noticed that its company does not have plans on signing of the agreement with “ Norilsk nickel “ about palladium deliveries, also has added that at decision Moody ` s “ there is a small political component “. Stillwater Mining Company in the first quarter 2004 has received net profit in $15,8 million, or $0,17 on the action, in comparison with a loss one year ago in $1,8 million, or $0,04 on the action. Stock value Stillwater has grown for last year four times against growth of cost of platinum and a palladium.
“ Interfax “; Dmitry SIDOROV, New York
the Declaration on intentions
“ Power machines “ will not pay dividends
Open Society Board of directors “ Power machines - ZTL, LMZ, ` the Electric power `, ` Energomasheksport ` “ (concern “ Power machines “) On Friday recommended to meeting of shareholders which will take place on June, 30th, not to pay dividends following the results of 2003. During meeting also it will be offered to shareholders to approve concern transactions “ Power machines “ from joint-stock company “ the Kaluga turbine factory “ Open Society AKB “ Rosbank “ and Joint-Stock Company “ Atomstrojeksport “. The concern Net profit on MSFO in 2003, according to preliminary data, has made $14,108 million
McDonald ` s Company McDonald ` s in July, 2004 will open restaurants in Saratov and Ufa
plans to open on one restaurant in Saratov and Ufa. As have informed in a press - company service, till now in these cities of restaurants McDonald ` s was not. “ new cities are very important for us, especially Ufa. We move apart borders of presence of the company in Russia “ - have noted in a press - service. In the end of March of this year McDonald ` s also has appeared in Sochi. Each new restaurant in Russia manages McDonald ` s approximately in $1,5 million All in 2004 is planned to open 20 restaurants.
“ Interfax “
“ Coke “ has bought “ Krontif “
Shareholders of the Kemerovo joint-stock company “ Coke “ have finished purchase of Sukremlsky iron-works (“ Krontif “) Located in the city of Ljudinovo of the Kaluga region. According to the deputy of the State Duma Boris Zubitsky, one of the basic shareholders Kemerovo “ Coke “ over the enterprise the group has received control in 2003, having got 51 % in Joint-Stock Company “ Krontif - the centre “ through which there was a sale of ready foundry production. Then the Sukremlsky iron-works with the consent of the authorities of the Kaluga region and at active participation of Federal Agency of financial improvement were obankrochen, and its property is exposed on sale. One of these days “ Krontif - the centre “ for 25 million rbl. has got at the auctions industrial actives of factory. Till last moment the Moscow Open Society " appeared the proprietor of 81,4 % of actions of factory; Santo - holding “. For the first half of the year 2003 the factory has made a commodity output on 150 million rbl. According to the mister Zubitsky, “ Krontif “ can work with profitability in 12 % and let out a commodity output on 80 million rbl. a month.
IGOR - LAVRENKOV, Kemerovo
“ a Mechel “ became the largest shareholder “ Izhstali “
On Friday the ministry of property relations of Udmurtiya has summed up specialised auction on sale of 28 % of actions of metal works of Open Society “ Izhstal “. As the minister of property relations Sergey Kasihin has informed, on auction 15 demands have been submitted. Demands have submitted Open Company “ the Alpha - Eko - M “ Joint-Stock Company “ Stalinvest “ Open Company “ the Trading house ` Orlando ` “ Open Society “ Steel group ` a Mechel ` “ (SGM), Open Company “ Ist - Wood “ Joint-Stock Company “ Midinvest “ Open Society “ the Tula investment company “ and eight physical persons among whom there was a general director “ Izhstali “ Valery Moiseyev. During auction uniform price of sale of one action has developed at a rate of 1740 rbl. Steel group “ a Mechel “ (SGM) has placed the order for 500 million rbl. And as a result has received 26,91 % of actions of Open Society “ Izhstal “ becoming the largest shareholder of the enterprise. Joint-Stock Company “ Stalinvest “ the firm under control to Valery Moiseyev, has placed the order for 20 million rbl. (1,08 % of actions). Mister Moiseyev too participated in auction and on the brought 100 thousand rbl. could get 57 actions. By data, nominally having 14 % of actions “ Izhstali “ “ Stalinvest “ actually supervises about 24 % of actions of factory. 25 % which have remained with local administration of actions “ Izhstali “ according to Sergey Kasihina, will be exposed on the following auction.
DMITRY - KNYAZEV, Izhevsk
“ Gazprom “ has replaced representatives in “ Zapsibgazprome “
On Friday of joint-stock company “ Gazprom “ has changed two representatives in Open Society board of directors “ Zapsibgazprom “ (Tyumen). New councillors, the head of department of capital construction of department of capital construction and Open Society transport “ Gazprom “ Anatoly Marinichev and the first deputy of the chief of department of capital construction and Open Society transport “ Gazprom “ Dmitry Arhipov have replaced the deputy chief of department on work with Open Society regions Russian Federations “ Gazprom “ Gennady Koshelja and the deputy chief of department on management of property and corporate relations of Open Society “ Gazprom “ Igor Lipsky. The new chairman of board of directors is not appointed yet.
AK and M
personnel shifts in “ prof - media “
In the end of last week it became known at once about two new appointments in Joint-Stock Company “ the Publishing house ` Prof - media ` “ (“ Komsomol truth “ “ News “) . By the financial director of the publishing house it is appointed 33 - summer Sergey Lavruhin. Earlier it worked as the financial director of publishing house Hachette Filipacchi Shkulev. The director for company investments “ prof - media “ became 38 - summer Sergey Tikhonov who since summer of 2003 works in the holding company “ Interros “ being parent company “ prof - media “.
KONSTANTIN - BORONDJUG