Yesterday it was announced that representatives of the Siberian-Ural Aluminum Company (SUAL unites the Ural and Irkutsk aluminum plants) had been removed from the management of the Novosibirsk Electrode Plant (NovEZ). This personnel revolution could have far-reaching consequences for the entire Russian aluminum business.

Acting external manager of NovEZ Yuri Parygin dismissed the company's executive director Sergei Kokhanovsky and all his deputies representing SUAL. Viktor Pirogov was appointed the new executive director. Yesterday he told Interfax that he intends to cooperate with the decision of the Zhukovsky District Court (Moscow Region) of May 11, which declared the transfer of NovEZ property to ZAO Sibel illegal.

NovEZ is a Russian monopoly on the production of electrodes, which are a necessary component in the production of aluminum. Until recently, the plant was managed by a team of managers from SUAL. SUAL was not a shareholder of the enterprise, but while the plant was under external management, a subsidiary of NovEZ was created - ZAO Sibel.

In the autumn, the main capacities of NovEZ were transferred to Sibel, and the controlling stake in Sibel itself was transferred to structures close to SUAL.

At the end of last year, Renova, the owner of a controlling stake in SUAL, negotiated with Lev Cherny and other shareholders of the Krasnoyarsk Aluminum Plant about acquiring the enterprise. The parties had already shaken hands, but it was decided to sell KrAZ to Roman Abramovich. According to available information, Lev Cherny wanted to sell shares in NovEZ (about 12%) to Abramovich along with shares in KrAZ and BRAZ, but he refused.

At that time, their acquisition was a pointless matter, because all the main production of electrodes was concentrated at Sibel. It is possible that the intention of the new management team of NovEZ to cancel the creation of Sibel is part of the pre-sale preparation of the company's shares, which is being carried out by representatives of Lev Cherny. At least, the chairman of the NovEZ creditors' committee, vice-president of Renova, Alexander Volynsky, claims that the coup at NovEZ is being carried out by Lev Cherny's people.

Formally, all personnel changes were made by Yuri Parygin. He began to perform the duties of the external manager of NovEZ after the local arbitration court satisfied the claim of Novosibirskenergo at the end of March and removed SUAL's protégé Sergei Surkov from the position of manager. As Interfax reports, Parygin made the decision to remove Kokhanovsky based on the decree of the head of the Federal Service for Financial Monitoring Georgy Tal.

According to Volynsky, the dismissal was sanctioned by representatives of the regional administration close to Cherny, Alexey Bespalikov and Dmitry Verkhovod, who took advantage of the absence of the regional governor, Viktor Tolokonsky, who was on a business trip.

Theoretically, Parygin and Pirogov may terminate the agreement on the creation of Sibel in the coming days. But Volynsky believes that this will not be done quickly, since the decision of the Zhukovsky court has already been challenged, and Parygin himself may leave the plant in the 20th of June - then the local arbitration will consider the complaint against Surkov's removal from the position of external manager.

Volynsky said that yesterday at a meeting with acting governor Viktor Kasaurov an agreement was reached to wait for the governor to return and decide with him on June 13 what to do next with NovEZ. This conversation will be important not only for the future of NovEZ, but also for the entire aluminum industry. This year, the state-owned stake (more than 60%) in the plant's shares is being put up for sale. If Tolokonsky does not return SUAL representatives to the plant, then ZAO Sibel will be cancelled, which means that NovEZ shares will again become attractive to investors.

SUAL removed from electrodes