SCM Continues Restructuring.
17 January 2008
At the company’s AGM yesterday, System Capital Management’s shareholders decided to found a new subsidiary – a special company that will manage SCM’s assets in the steel industry. This is the second step SCM has taken to restructure its assets. In late 2005, SCM reorganized the Donbass Fuel-Energy Company Association (DFEC) into a corporation. The DFEC comprises the energy-generating, energy supplying and coal mining companies owned by SCM. Concorde Capital: SCM is making great strides to improve transparency and improve corporate governance, these moves are part of this process. We would be not surprised to see two IPO’s from SCM.
