On March31, 2005, Vneshtorgbank and 'Kombinat Magnezit' JSC signed a Cooperation Agreement in Moscow.
The Agreement sets out main guidelines of mutually reinforcing cooperation between Vneshtorgbank and 'Kombinat Magnezit' JSC.
Under the Agreement, Vneshtorgbank shall provide comprehensive banking services to 'Kombinat Magnezit, JSC, including cash and settlement services, lending, export and import financing, as well as consulting and information services within joint projects.
Vneshtorgbank is also expected to participate in financing current and investment activities of 'Kombinat Magnezit' JSC, including loans to purchase supplies of production facilities within credit lines opened to Vneshtorgbank by international financial institutions.
In addition to the Agreement, the Parties also signed an Action Plan detailing the steps to be taken in implementing the Agreement.
The Agreement and the Action Plan were signed by Igor Zavyalov, Deputy Chairman of Vneshtorgbank and Anatoly Slobodin, General Manager of 'Kombinat Magnezit' JSC.