OREANDA-NEWS. September 19, 2008. SCM Group has obtained permit from the Antimonopoly Committee of Ukraine to concentrate over 50% in the charter fund of OAO Kamenka Machine Building Plant (Russia), reported the press-centre of SCM Group.

SCM Group already holds controlling stakes in four machine building assets: OAO Donetsk Power Equipment Plant, OAO Druzhkovka Heavy Engineering Plant, OAO Sverdlovsk Machine Building Plant, and ZAO Gorlovka Mashinostroitel, and is now in process of acquiring control of OOO Ukrtransmash.

"Currently we are boosting stakes in mining machinery enterprises to make them controlling. At the same time we scrutinize possible development scenarios for each of the machine building assets of which we are a shareholder," stated Nikolay Nesterenko, SCM Director of New Business Development.

"Only after such analysis and comprehensive study of strengths and weaknesses of each asset and development of general strategy for this area of business we will determine final configuration of machinery business of the Group. We expect to make a final decision before the yearend."

Presently SCM Group owns a bit less than 15% in OAO Kamenka Machine Building Plant (Russia). The Group has reached an agreement in principle with minority shareholders of the plant to buy out their shares. This will enable the Group to acquire control of Kamenka Plant. It should be noted though that consolidation of the controlling stake will become possible only after the Group obtains all permits, including those from Russian antimonopoly authorities.