Regular board meeting has been held in Metafrax

Regular board meeting was held on 22 August in Metafrax.

The Board of Directors has reviewed information on the company's activity for the first six months of the year 2008 having marked that planned figures of commercial products output and sales had been exceeded and the total production volume almost for the whole range of products has increased against that of the relevant period of the previous year.

Having analyzed the Metatrans Ltd. activity for the six months of 2008 the Board has underlined significant improvement of the affiliated company financial and economic performance in 2008 in comparison with the same period of the previous year. For this period the Metatrans sales have become 38,8 % more, and the company's profit has shown 4 time increase. The Board has also recommended to Vladimir Dizik, Metatrans Ltd. Director, to establish in 2008 the company's branch in Berezniki on the JSC Meakir premises and facilities.

Members of the Board have considered the Metafrax human resources management related to personnel training program up to 2015. Personnel Training Program till 2015 and financial support of the program will be approved at the November board meeting.
The Board has also approved time periods for presentation of emergent production information and information about economic feasibility of investment projects implemented by Metafrax Group of Companies as well as procedure for investment project budgets approval and monitoring.