OREANDA-NEWS. On 19 August 2009 was announced, that the holding company “CENTRAVIS LIMITED” (Cyprus) finalized consolidation of ownership of 100% shares of CJSC “CENTRAVIS PRODUCTION UKRAINE” (Nikopol city, Dnepropetrovsk region, production of seamless stainless tubes). This step is one of those completing the project of business reorganization and building a vertically integrated holding. The change is to simplify the structure of ownership and management of the company, eliminating the intermediate link in the chain of ownership — the company UVIS-CAPITAL.

The volume of shares of the juridical person “CENTRAVIS LIMITED” (registration number 178923, location 17В, Kosta Partasidi Str., Limassol, Cyprus, 3030) will increase from 125 640 315 (that was 62,0261006006% of the authorized capital of CJSC “CENTRAVIS PRODUCTION UKRAINE”) to 202 560 396 shares (that is 100% of the authorized capital of the company). The size of the holding of CJSC UVIS-CAPITAL (EDRPOU* code 31951224, location 1A, Clara Tsetkin Str., Dnepropetrovsk city, 49005) decreased from 76 920 081 shares (that was 37,9738993994% of the authorized capital of the company) to 0 shares (that is 0% of the authorized capital of the company). Thus, CJSC UVIS-CAPITAL discontinued its shareholder’s membership, and today 100% shares of CJSC “CENTRAVIS PRODUCTION UKRAINE” belong to the holding company “CENTRAVIS LIMITED” (Cyprus).

Earlier, June 20, Yuriy Atanasov was appointed Chairman of Board of Directors of “CENTRAVIS LIMITED”. This step, according to the unanimous opinion of Board of Directors of “CENTRAVIS LIMITED”, will allow to rise efficiency of the international tube holding managing due to the fact that Yuriy Atanasov now combines positions of Chairman of Board of Directors of CJSC “CENTRAVIS PRODUCTION UKRAINE” and of the holding company.

Andrey Natrus, Corporate Policy and Management Director of CJSC “CENTRAVIS PRODUCTION UKRAINE”: “All changes in the structure of ownership of “CENTRAVIS LIMITED” and in the membership of Board of Directors are the planned steps of continuous process, run by the holding CENTRAVIS, of improving and rising efficiency of its own system of management. Our aim is to follow the best world’s practices of corporate management, and expectations of our financial and business partners”.