Pjsc Novor. S Regulatory News (NCSP)

10 Aug 2009 09:25



Press Release

August 10, 2009

Novorossiysk Commercial Sea Port (LSE: NCSP, RTS and MICEX: NMTP) announces the appointment of Mr. Antonyan G. A. to the position of Vice-President for Technologies at PJSC NCSP. Previously Mr. Antonyan served as General Director (CEO) of PJSC Novoroslesexport, a subsidiary of the NCSP Croup specializing in handling of containers and timber cargo.

On August 5, 2009 in connection with taking office at the parent company of the Group the Board of Directors of PJSC Novoroslesexport voted to suspend the powers of Mr. Antonyan as General Director of PJSC Novoroslesexport starting from August 10, 2009, and to appoint Mr. Kalustov A.A., First Deputy General Director for Production, as acting General Director of PJSC Novoroslesexport from August 10, 2009 until the decision of the extraordinary Shareholders meeting of PJSC Novoroslesexport.

Commenting on Mr. Antonyan's new appointment, NCSP Chairman Alexander Ponomarenko said: «Mr. Antonyan has vast experience in the stevedoring business, he implemented a number of large-scale projects, including construction of the modern container terminal and complete overhaul of the timber terminal at PJSC Novoroslesexport. Having such a person join the top-management of the Group's parent company enables us to improve the practice of developing and managing investment projects, especially in the container business, which is our priority».

Alexander Ponomarenko also noted that «Mr. Kalustov has been working with the former CEO of PJSC Novoroslesexport since 2004, he is keenly aware of both the technological and the commercial aspects of the company's operations, and will be able to continue developing the business at high professional level».

About NCSP Group

Novorossiysk Commercial Sea Port is the largest Russian port operator in terms of cargo turnover. Group's consolidated cargo turnover in 2008 totaled 81.6 million tonnes. Consolidated revenue to IFRS for the 2008 totaled $653.777 million.

NCSP shares are traded on Russia's RTS and MICEX exchanges (NMTP) and on the London Stock Exchange (NCSP) in the form of GDRs (1 GDR representing 75 shares). 

NCSP Group includes the following stevedore companies: PJSC NCSP, PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, PJSC NCSP Fleet, OJSC Novoroslesexport, OJSC IPP, and Baltic Stevedoring Company Ltd.

For more information please contact:

Tel.: +7 (495) 783-5434; IR@nmtp.info