United Machine-Building Plants (OMZ) has officially announced its entry onto the London stock exchange. Company shares will be on sale from today. As a Rosbalt correspondent reports, this was announced today by General Director of OMZ Kakha Bendukidze.
OMZ owns several Russian enterprises specialising in the engineering, production, sale and servicing of machinery used in the nuclear sector, oil and gas sector, mining, sea and river transportation and steel production. 37% of the company's shares are owned by the company management, 38% are owned by foreign investment bankers. Russian investment bankers own 13% of the shares and 2% are owned by private shareholders. Company sales came to over USD 435 million in 2002, a year-on-year increase of 39%.