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Press Release

29 April 2015

Press Release

OJSC Kazanorgsintez Annual General Shareholders Meeting summarizing the results of the Company’s activity was held on April, 29 2015. The meeting was attended by Acting Tatarstan President Rustam N. Minnikhanov as well as by representatives of ministries and agencies of the Russian Federation and the Republic of Tatarstan.

OJSC Kazanorgsintez’ General Director, Farid G. Minigulov reported the results of the Company’s activity in 2014. In his speech he emphasized that the Company ended the previous year with good financial results. Net profit of the Company for financial year exceeded 6.1 bln. rubles. Compared with the previous year the revenue growth achieved 18.1% and amounted to 54.5 bln. rubles in monetary terms. The growth of revenue was mostly driven by prices growth for the Company’s production as well as sufficiency in raw materials. Basic components of the market products structure are ethylene-based polymers and copolymers, polycarbonate, polyethylene pipes and parts. These products provide 88% of total revenue. In 2014 production for ethylene-based polymers’ and copolymers’ achieved 689.7 thousand tons; for polycarbonate – 62.2 thousand tons and for polyethylene pipes – 24.5 thousand tons. The Company performs full and accurate payments to all-level budgets as well as salary payments.

The Company’s shareholders approved the Annual Report, Annual Financial Statements and Financial Report on OJSC Kazanorgsintez’ activity in 2014. OJSC Kazanorgsintez’ profit distribution for 2014 recommended by the Board of Directors was also approved:

  • dividends payout (30% of net profit) - 1 833 757 thousand rubles 00 kopecks, including:
    - for preference shares 0.25 rubles per share (as per Article 10.17 of OJSC Kazanorgsintez Articles of Association) - 29 899 thousand rubles;
    - for ordinary shares 1.0105 rubles per share, making 1 803 858 thousand rubles.

The rest part of net profit remained undistributed.

General Shareholders Meeting of OJSC Kazanorgsintez dealt with electing the Board members. The Board of Directors includes:

  1. Sergey V. Alekseev, First Deputy Director General of JSC Svyazinvestneftekhim;
  2. Marat M. Garaev, Deputy Head of the Office of the Department of Marketing and Processing of Gas and Liquid Hydrocarbons of OJSC Gazprom;
  3. Farid G. Minigulov, Director General of OJSC Kazanorgsintez;
  4. Naim Mujichich - Shareholder of Interpetrol SA;
  5. Vladimir V. Presnyakov, Deputy Director General of PSC TAIF;
  6. Rinat K. Sabirov, Aide to the President of the Republic of Tatarstan;
  7. Damir Kh. Safiullin, Deputy Minister of Industry and Trade of the Republic of Tatarstan;
  8. Albert F. Sulteyev, Deputy Head of the Production and Commercial Department of PSC TAIF;
  9. Dmitry I. Teslenko, Head of the Financial and Economic Department of PSC TAIF;
  10. Ruslan A. Shigabutdinov, Deputy Director General of PSC TAIF.

Minister of Economy of the Republic of Tatarstan Artem A. Zdunov was assigned to the Board of Directors of OJSC Kazanorgsintez as a state representative by virtue of the special right (golden share).

On General Shareholders Meeting the Audit Commission was elected. The new members of the Audit Commission of OJSC Kazanorgsintez are as follows:

  1. Tatyana A. Barchenkova – Economist of the Financial Department of PSC TAIF;
  2. Yuliya V. Voronina, Chief Councilor of the Department of the Presidential Affairs of the Republic of Tatarstan;
  3. Aida R. Gabdrakhmanova, Head of the Planning and Economic Department of OJSC Kazanorgsintez;
  4. Olga V. Ignatovskaya, Chief Accountant of PSC TAIF.

Fanis G. Gabdulkhakov, Head of the Department of the Economic Analysis of the Ministry of Finance of the Republic of Tatarstan, was assigned to the Audit Commission of OJSC Kazanorgsintez by virtue of the special right (golden share).

ZAO PricewaterhouseCoopers was assigned as Company’s auditor by the General Shareholders Meeting.

The Annual General Shareholders Meeting of OJSC Kazanorgsintez was followed by the first meeting of the newly composed Board of Directors. Ruslan A. Shigabutdinov, Deputy Director General of PCS TAIF, was elected the Chairman of the Board of Directors at the suggestion of the Acting Tatarstan President Rustam N. Minnikhanov.


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