Vladimir Butenko, former Sales Director of Maxi Group, was appointed GD of Nizhneserginsk Metallurgical Works by the company’s Board of Directors Former General Director Alexander Kutakov was offered to lead the construction of Electrometallurgical Works of Togliatti.

The Board also arranged for the shareholder meeting on April 3, 2006. The list of attendants is to be determined by the inscribed stock owners roll as of March 10, 2006. The points on the agenda include approving the annual balance sheet as well as the profit and loss account and their distribution. The other points concern the payment of dividends, electing the Board members and the inspection committee as well as the company’s auditor, and amendments to the company’s Charter.