OREANDA-NEWS. June 7, 2008. The Board of Directors of Baltiysky Zavod OJSC has recommended the general meeting of shareholders not to pay dividends for 2007, the company informs. The general meeting of shareholders is to be held according to a standard agenda on June 10, 2008.

Baltiysky Zavod, JSC is one of the leading enterprises in the Russian shipbuilding industry (member of United Shipbuilding Corporation). Currently the Baltiysky Zavod shipyard specializes in construction of icebreakers and ice-classed vessels (with nuclear-powered propulsion, as well as conventionally powered), large commercial vessels for carrying various types of cargo, and naval ships. The company also manufactures a wide range of marine propulsion equipment and machinery for equipping ships built at the shipyard, as well as for supplying other yards. Baltiysky Zavod also manufactures heat exchanges for nuclear power plants and is a major producer of non-ferrous and core-mould castings.
United Industrial Corporation (OPK) controls 88.2% of the yard’s shares.