The general annual meeting of shareholders was held in OAO Uralchimplast

The general annual meeting of shareholders was held in OAO Uralchimplast on April, 24.The meeting confirmed the annual report, the annual accounting for 2008, including the income and expenses report.

The Managing Director of OAO Uralchimplast Denis Borovkov reported that in 2008 the volume of the shipped production relatively to 2007 is 101.2%. At that the assets of the company grew up to 556 mln. rubles, which is connected most of all with the starting up of the new production of polymer coated proppants. The plant A on production of 50% formalin was also put in operation with the capacity of 30 thousand tons. In May of this year the putting into operation of plant B on KFK-85 production with capacity of 50 thousand tons is planned. Despite of the influence of the world crisis, the volume growth of urea-furan resins comes to 101,6%, , fluoroplastic production – 104,2%. At that the decrease of this index on synthetic resins production comes down to 75,5%.

The Board of Directors of OAO Uralchimplast came out with a proposal: not to announce and pay the dividends for 2008 but invest all the profit in modernization of the production. The meeting of shareholders supported the initiative.

The following people formed the Board of Directors: Director General of ZAO “Managing Company Uralchimplast” Aleksander Gerdt, the member of the Board of Directors Tomas Bogdanovich, Managing Director of OAO “Uralchimplast” Denis Borovkov, Deputy General Director on legal matters and corporate governing Maksim Gerdt, the member of the Board of Directors Heinz Kaiser, Deputy Director General on development and research Oleg Shishlov, the member of the Board of Directors Joerg Talbiersky.

Aleksander Gerdt was elected the chairman of the Board of Directors of OAO Uralchimplast. OOO “RSM Top-Audit” (Moscow) was approved as the auditor of OAO Uralchimplast.