Russians liquidate Ukrainian Pipe Plant

Shareholders of CJSC Tube Works VSMPO-Avisma plan to liquidate the enterprise. The corresponding question on the agenda of the meeting of shareholders scheduled for March 10. The meeting also expected to elect the liquidation committee and its chairman, and approve the procedure and terms of liquidation company. It is worth noting that earlier shareholders CJSC Tube Works VSMPO-Avisma could not hold a general meeting, scheduled for August 7, 2009 and January 25, 2010 - for lack of quorum. Earlier the company planned to eliminate the Board of Directors and that it be replaced as General Director. Tube Works VSMPO-Avisma graduated in 2009 with a net loss of 35.09 million USD. Russian VSMPO-Avisma in 2005, acquired 100% of the Swedish company "Sarl.Edblom.Titan AB, which controls 50.1% shares of CJSC "Plant" SETAB-Nikopol. " ZAO SETAB-Nikopol was founded in early 2001 as part of restructuring Yuzhnotrubny Nikopol factory on the basis of his pipe welding shop № 5. After the change of major shareholder the company was reorganized in 2005, CJSC "Tube Works VSMPO-Avisma. Ministry of Industry