June 2010

VolgaOrgChem shareholders (ProPartners and VTB Capital) had taken well-grounded but still difficult decision to suspend the project. «CAPEX growth from usd 24M up to 57M, rapid drop in MCAA and HCl consumption during and after crisis, hike in chlorine, electricity and natural gas prices and essential growth in interest rates push us to freeze construction of the plant for indefinite period», — Sergey Kozlov (VolgaOrgChem GD) was quoted as saying. As per Kozlov, the project managers were particularly discouraged by low quality and reliability of engineering and construction organizations on all the stages, unfairly high costs of everything, including services and materials, regular delays in works completing during first stages of construction and (although predicted) difficulties in getting any of local and federal approvals and permissions for construction as well as limits for natural gas. «Now it is clear that successful commissioning of our Tver recycling plant was good luck rather than logical result. We must admit that to develop any serious high-scale green field production project in Russia one should be a hero, billionaire and government close person», — ProPartners shareholder said.

May 2010

ChemPartners Russia started cooperation with UniCredit Bank which is currently Russia largest foreign capital bank. UCB will provide standard line of banking services including trade financing which is the Bank’s strongest and competitive product for Russia corporate market.

January 2010

It is difficult to fairly evaluate 2009 Year results as for most of businesses worldwide key question was «To be or not to be». Taking that as comparison base we are satisfied by usd 42M sales and keeping all our qualified and devoted personnel with us. It is also worth mentioning that volume wise decline in sales was not that rapid as it was in terms of money due to dramatic price fall for majority of products. In Russia RUR devaluation helped us to even successfully develop some exports and improved performance of local recycling production (EcoTechnologiesTM). After all we are thankful to our staff and our partners for their loyalty and trust and look into the future with optimism, especially after healthier III and IV quarters.

September 2009

Moscow headquarter had moved to new, luxury office in spite of obvious hard times and numerous challenges brought by crisis. ProPartners shareholders are assured about successful rehabilitation of business and strive to use favorable conditions on Moscow office rent market to strike this deal for next 3 years at currently astonishingly low rates to secure costs and provide comfort for our staff and guests who were devoted to us during crisis period.

August 2009

Production of PET strap band is launched at EcoTechnologies in Tver. PET-flakes which are produced by Ecotechnologies from waste PET-bottles are key raw material for the band production which guarantees competitiveness cost wise. Besides that italian Technoplastic s.a. equipment provides excellent quality and optimal output of the new line. Commissioning of PET strap band line aims to chase advantages of local currency devaluation and replace imports of band which still remains. EcoTechnologies is Russia largest PET-bottles recycler and thus has sufficient feed stock base and cost advantages for band manufacturing.

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