Representatives of NCSP Have Joined the Boards of Directors of its Subsidiary Companies
Novorossiysk Commercial Sea Port (LSE: NCSP, RTS: NMTP, MICEX: NMTP) (“NCSP”) has exercised its right as majority shareholder and nominated the candidates for the Boards of Directors of its subsidiaries: NLE Timber & Container Terminal, NSRZ Ship Repair Yard, NZT Grain Terminal, NCSP Fleet, and IPP. The following members have joined the subsidiaries’ Boards:
- Alexandr A. Ponomarenko, Chairman, Board of Directors, NCSP
- Igor E. Vilinov, General Director, NCSP
- Dmitry A. Bolotov, First Deputy General Director, NCSP
- Vladimir A. Kayashev, Vice President, Strategy, NCSP
- Pavel P. Oleinick, Vice President, Investments, NCSP
- Tatyana P. Chibinyaeva, Vice President, Finance, NCSP
- Tamara A. Pakhomenko, Senior Vice President, NCSP Moscow Office
- other NCSP executives
Igor Vilinov, General Director of NCSP, said: “The meetings of shareholders of NCSP’s subsidiaries have appointed the new Boards of Directors which have included representatives of our company. This decision implements our policy of subsidiaries’ management through participation in every company’s Board. This policy is aimed at better coordination of the port’s activity to increase the share of high-margin cargoes, and deliver equally high quality of the port’s services.”
NCSP
Novorossiysk Commercial Sea Port (NCSP) is Russia's largest sea port operator by cargo turnover, according to Association of Sea Ports. NCSP`s total cargo turnover in 2007 amounted to 79,4 mln. tons, according to consolidated results. NCSP is listed on London Stock Exchange and Russian stock exchanges RTS and MICEX. In 2007 NCSP had revenues of $483,4 mln. with EBITDA of $227,9 mln. and net profit of $93,7 mln. (consolidated results).
NCSP is the largest stevedore company of port Novorossiysk, a multi-purpose deep-water port complex located on the Black Sea, which provides year-round navigation. The port is a key Southern gateway for import and export of a wide range of cargoes (including oil, oil products, timber, grain, fertilizers, ferrous metals, containers, automobiles and general cargo). In 2007 NCSP has transshipped about 96% of all port Novorossiysk cargo.
NCSP owns the following stevedore companies: NZT Grain Terminal, NSRZ Ship Repair Yard, NCSP Fleet, NLE Timber & Container Terminal, IPP, Baltic Stevedore Co.
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