Board of Directors endorses Kurganmashzadov's stake alientation
Message to the Media
The Board of Directors meeting is still underway at Gazprom’s Headquarters.
The Board endorsed the alienation of the SIBUR-owned Kurganmashzavod’s 18.19% stake to be put up for an auction together with other Kurganmashzavod’s shares held by SIBUR’s subsidiaries and associated undertakings.
Background
A major military and industrial establishment in Russia, the Kurganmashzavod Plant manufactures caterpillar all-terrains, timber industry vehicles, machines, mini tractors, trailers and other output being non-core for Gazprom and SIBUR.
The SIBUR Group owns a 50.63% stake in Kurganmashzavod, including with 18.19% being held by SIBUR, 15.31%, by Uralorgsintez, 12.48%, by OmskTyre and 5.65%, by SIBURTyumenGaz.
Information Directorate, OAO Gazprom