OREANDA-NEWS. On October 02, 2007 OMZ (Uralmash-Izhora Group) (RTS: OMZZ; LSE: OMZD; OTC: UHMVY) announced its transfer of shares in Ural Heavy Machine Building Plant OJSC to pay for its 50% stake in the charter capital of CJSC Machine-Building Group Uralmash (CJSC MBG Uralmash) as its contribution to the joint venture to be owned with equal partner Metalloinvest, reported the press-centre of OMZ.

The joint venture MBG Uralmash includes the following Yekaterinburg and Orsk enterprises: Ural Heavy Machine Building Plant OJSC (Uralmashzavod), UralmashSpecStal LLC, OMZ Crushing and Milling Equipment LLC and OMZ Crane LLC on the part of OMZ, and ORMETO-YUMZ Machine-Building Group OJSC on the part of Metalloinvest.