UMP OJSC (Kazakhstan) and MNMPP OJSC (Russia) have created joint venture

/IRBIS, September 12, 02/ - Press-service of the National atomic company Kazatomprom (NAC Kazatomprom, Almaty), whose bonds are traded under Kazakhstan stock exchange's (KASE) official "А" listing category, distributed today press-release, in which it is said that on September 12 of the year 2002 Ulba Metallurgical Plant OJSC (UMP OJSC, Ust), National Atomic Company Kazatomprom's subsidiary (90%), city of Ust-Kamenogorsk, and OJSC Moscow Nonferrous Metals Processing Plant (OJSC MZOCM) established JV OJSC BerylliUM. It is said in the press-release that the joint venture has been founded in order to increase sales volume of copper beryllium rolled product in the Russian market. Shares of the founders are equal - 50% to 50%. Such cooperation should be mutually beneficial for the Russian and Kazakhstan facilities and promote further integration between the countries. UMP OJSC will produce copper beryllium billets for rolling, and MZOCM OJSC will manufacture copper beryllium flat rolled products. Copper beryllium flat rolled products have wide application in high-tech industries such as electronics, appliances and electrical industry. Current rapid growth of these industries in various regions of Russia will support the commercial success of the project. UMP OJSC beryllium plant is the second world producer of beryllium products which has a complete cycle of processing from ore concentrate to beryllium metal and its alloys. MZOCM OJSC has many years' experience of manufacturing nonferrous metal and alloy rolled products. [2002-09-12]