VEB replaces board chairman at Amurmetall
VLADIVOSTOK. May 28 (Interfax) - The board of directors at OJSC Amurmetall (Komsomolsk on the Amur) has elected Andrei Sapelin, the head of Vnesheconombank's (VEB) industrial department, as new chairman, the company said in a statement.
The board was earlier chaired by VEB Capital's head of industrial assets, Dmitry Bochkarev.
Amurmetal has not commented on the personnel changes.
It was earlier reported that the board of directors at the company, which was elected an extraordinary meeting in April 2012, includes Sapelin, Bochkarev, the deputy director of the Ministry of Industry and Trade's department for key industrial sectors, Alexei Pinchuk, Sberbank's vice president and head of the bank's division for working with problematic shares, Svetlana Sagaiak, the general director of LLC Siberia-Amur Metal (Amurmetal's managing company), Vladimir Limankin, as well as Stanislav Gerasimchuk and Konstantin Proshin.
Amurmetall is the sole steel-maker in Russia's Far East.
VEB acquired 100% in Amurmetall Holding in April 2010 and thereby gained control of the following enterprises: LLC Amurmetall Group, LLC Siberia-Amur Metal, OJSC Amurmetall, LLC Siberia-Amur Steel, LLC Amurmetal Litye, LLC Amurmetallservis, LLC Amurmetall-Resource, LLC Amurmetall Trading, and LLC Sovgavan-Vtormet. The bank estimated the value of the asset consolidation on the date of the acquisition at 25.22 billion rubles. Liabilities came to 24.72 billion rubles. Amurmetal's former owners received rights to buy back from VEB.
It was earlier reported that Uralvagonzavod is in negotiations with VEB about the possibly of transferring Amurmetal to the corporation's management.