79.48% of Aviation Bearing Plant Consolidated

European Bearing Corp. (EPK) acquired 59.56% in Aviation Bearing Plant (Samara), as it was informed.

The Federal antitrust service met the EPK application to have 79.48% in the Plant with respect to the earlier purcahsed 19.92%.

The Plant was set up on the basis of former GPZ-4 and was included into EPK in 2005. It is a leader in this sector in Russia; the 9-month revenues gained 1.2bn rub.; net profit - 394mln rub. EPK involves Moscow Bearing, Moscow Aviation Bearing, Stepnogorsky Bearing, VOlzhsky Bearing, Samarsky Aviation Bearing and Trade House EPK.

Corporation covers 37% of the domestic market and is a monopolist in this sector. The major holder (79%) is Orionbay Trading Corp., 19% being held by Parkwood United Corp.

The 9-month profit reached 775mln rub.; revenues - 5.7bn rub.

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