MOSCOW, November 2 (RIA Novosti) - A group of Russian investors have acquired a 42.16% stake in United Machine-Building Plants (OMZ) from companies linked to Georgian economic minister Kakha Bendukidze, Russian investment bank United Financial Group said in a statement Wednesday. UFG was the deal's lead manager and a paying agent for all the parties, the statement said.
"The strategic goals of OMZ are to develop its core business, complete internal reorganization, and raise the profitability of its operations," a UFG spokesman said.
OMZ is Russia's largest heavy machine-building company specializing in the engineering, manufacturing, sale, and maintenance of machinery and equipment for nuclear energy facilities and mining. It also produces specialty steel and provides industrial services.
The company has production facilities in Russia and the Czech republic (Skoda Steel and Skoda JS). OMZ's net profit in 2004 totaled $61 million.
