Resolution of the Board of Directors

On 29 August 2017, the meeting of the Board of Directors of the AMKODOR holding took place. There was reviewed a range of issues related to the holding enterprises business activity.

The most important decisions which determine the development prospects of a group of companies were made up.

The development concept of the LLC AMKODOR-Mash was agreed. According to the contract for design, construction and machinery supply concluded between the LLC AMKODOR-Mash and CITIC CONSTRUCTION CO. LTD., the construction of the plant is to be started in the nearest future. Chairman of the Board of Directors of AMKODOR A.Shakutin has noted that the project is unique because it should be the best mechanical engineering enterprise not only in our country where there most advanced technologies and the most modern equipment should be collected. AMKODOR-Mash will be manufacturing the products completely corresponding to the world’s level. The General Designer Department of the holding is elaborating 20 models of the most modern special-purpose machinery which will be put into production at this plant.

For the benefit of a range of enterprises manufacturing vehicles and machines for agriculture, the Board of Directors has decided to establish the LLC Trade House AMKODOR-Agro. According to A.Shakutin, taking into account the experience of the world’s lead manufacturers of agricultural and construction vehicles, it is feasible to clearly divide the functions of production and sales of products. The Trade House will have to perform certain functions to arrange a dealer’s network, to act as a sole customer at manufacturing plants under a single unified contract, co-finance the placed orders at the expense of owned and borrowed resources, provide financial support to dealers in the form of developing various scenarios of trade financing and work with banks, including participation of a leasing company, etc.

Specific decisions have been made on all issues on the agenda of the meeting of the Board of Directors, deadlines have been defined and those responsible for their execution have been appointed.