OREANDA-NEWS. September 19, 2007.  Viktor Nechyatov, Deputy General Director for Economy and Finance of VSMPO – AVISMA Corporation has resigned from the Company, effective September 17, 2007 due to his movement to another job.

Early this year a single structure of financial management was established. The financial management structure included the position of Deputy General Director for Economy and Finance and Viktor Nechuyatov was appointed to the post.

The financial department under the supervision of Viktor Nechuyatov has established a mechanism of preparation and realization of the Company’s consolidated budget on the basis of the Company’s strategic plans up to 2012. Control over fulfillment of the financial plan has been put in place. Viktor Nechuyatov also took an active part in completion of the audit and publication of the Company’s consolidated financial statements for 2005 on a US GAAP basis. He invoked implementation of the enterprise resource planning system SAP ERP (R/3) in order to further develop management by the Company of its functions.

Vladislav Tetyukhin, General Director of VSMPO – AVISMA Corporation thanked his deputy for his work and wished him success in his new job.