EBC Intends to Restructure the Management

EBC Intends to Restructure the Management European Bearing Corp. (EBC) launched the restructuring inititated by the holders, the company informed.The changes are made to raise the managing of the company and its subs and transparency. The managing company removed into the independent entity will provide the development of the long term projects, capital structure, distribution of resources and diversification of production programs. In the new structure the profile divisions with different strategic aims will be set up. The general directors of the divisions will be included into the managing company staff to coordinate the operating acitivity. All measures aimed to restructure the Company are assumed to be finished by IIQ end. EBC involves Volzhsky Bearing Plant, Moscow Bearing, Moscow Aviation Bearing Plant, Aviation Bearing Plant (Samara), EBC research center. The Company covers 37% of the Russian market and a monopolist in this sector. The major holder (79%) is Orionbay Trading Corp., 19% are held by Parkwood United Corp.