SPZ Will Raise The Share Capital

Samarsky Bearing Plant (SPZ) decided to raise the share capital by 255ths rub., the company informed.

Through the close offering 255ths common stocks of 1rub. par are to be placed by Dec. 1, 2008. In line with the holders' decision Sprindale Investments Ltd. and Printex Investments Ltd. can buy no more than 120999 stocks each. In favor of SPM Management Ltd. 13002 stocks can be placed.

The share capital is worth 350ths rub. split in 350ths common stocks of 1 rub. par. Thus, the share capital will be raised by 73%.The major holders involve GMK Nornickel (5.55%) and Lavenco Ltd. (91.172%) being under the chairman control.

Samarsky Bearing Plant is one of the largest maker of roller bearings. The Plant covers 18% on the Russian bearing market and 13% in CIS.

Other News:
SPZ Will Raise The Share Capital
Applied Industrial Buys Mexican Concern
NN Names Anderson VP
GE Commercial Finance Corporate Lending Provides Trade Accounts Receivable Securitization To Rexnord Funding
Customers Turn to Timken For Rolling Mill Training
JTEKT Corporation Has Developed a Lightweight Hub Unit for Compact Vehicles
Automation Made Simple with Linear Motion
GP to Supply SKF Wheel Bearings to GAU