The third-largest copper producer - Russian Copper Company (RCC) disclosed their owners. Junior partners of the main owner Igor Altushkin are CEO of the Company,Vsevolod Levin and the former head of the Ural Bank for Reconstruction and Development, Sergei Dymshakov.
Five years ago, RCC disclosed that its main owner was Igor Altushkin; and that was not surprising. The holding appeared in 2004 on the basis of the Ural association "Brass Band", and the owners of the latter were called Altushkin and Alexander Volkhin (in 1987 he headed the Kyshtym Electrolytic Copper Plant, later became its co-owner and sold RCC). RMK did not call Volkhin one of the beneficiaries. But its representative said that Altushkin had partners with small stakes.
Now, these partners are known officially. Altushkin owns more than 75% of RCC, according to a memorandum issued to the upcoming release of the company's bonds for 3 billion rubles. "The shareholders are also Mr. V.V. Levin and Mr.S.V. Dymshakov ", as mentioned in there.
Through a representative of the RCC, Levin confirmed to Vedomosti that he owns a small share. Levin and Dymshakov have miserable stakes, less than 1%; the rest belongs to Altushkin, as a source close to the RCC said.
A native of Yekaterinburg, the 40-year-old Altushkin started the business trading scrap of non-ferrous metals when he established (right after graduating the Institute) Yekaterinburg trade and industrial companies in 1992. Shortly thereafter it became the largest supplier of raw copper in the Ural factories; the main partner was the UMMC. And in the late 1990's Altushkin decided that in-house scrap recycle was better rather than selling it to UMMC, and eventually created a competitor to the former partner. In 2004, RMK appeared - the third Russian copper producer after Norilsk Nickel and UMMC. Now the company includes 20 mining and metallurgical enterprises, providing 19% of refined copper at the Russian market. The current state of Altushkin is $ 1.1 billion (a recent assessment of Forbes).
43-year-old Levin directs RMK since its foundation, he led "all investment and innovation projects of companies by Altushkin," the site of the company says. He did not tell Vedomosti about when he had received shares of RMK.
Businessman from Yekaterinburg Dymshakov is 45 years old; he is a longtime partner of Altushkin. In 2007, "Finance” estimated the fortune of Dymshakov at 2.7 billion rubles. Since 2002, he was president of the Ural Bank for Reconstruction and Development. In 2003, businessmen, together with the managers of the bank purchased 19.96% of its shares from the UMMC. But this summer the partners fell out: the board of directors, headed by Altushkin, terminated the powers of Dymshakov. He disagreed with the decision and demanded in the Leninsky district court in Yekaterinburg compensation for 7.5 million rubles. Last week the court dismissed the suit. They failed to contact Dymshakov and Altushkin yesterday.
Source: Vedomosti, 16.12.2010