Uralkhimmash to prepare IFRS results for Jan-Sep 2011 and whole year
YEKATERINBURG. Sept 22 (Interfax) - OJSC Urals Plant for Chemical Machine Building (Uralkhimmash in Yekaterinburg) plans to start preparing financial reports according to Internatioanl Financial Reporting Standards (IFRS), the enterprise told Interfax.
According to a spokesperson for Uralkhimmash, IFRS reports will be prepared for January-September of this year and the entire period of 2011.
The company's management decided on publishing IFRS results since it is standard practice for all leading Russian companies to prepare reports in two formats, IFRS and according to Russian accounting standards (RAS).
OJSC Uralkhimmash manufactures equipment for enterprises in the petrochemical, chemical, oil and gas refining sectors, as well as clients in ferrous and non-ferrous metals, traditional and nuclear energy, and the building industry. Gazprombank is a strategic partner with the enterprise.
