Financial and Industrial Union "Sibkonkord" Notes Inaccurate Information Spread in Russian and Western Mass Media

KEMEROVO, Russia, July 3, 2012 /PRNewswire/ --

On May 26, 2012 a publication «RUXX: Western Companies Appeal to Russian President to Curb Corruption» was posted on the Russian Industrial Leaders Index (RUXX) site, and also spread in a form of a press release on a commercial basis. It contained erroneous information which discredits the reputation of OJSC "HC "Sibcem" ("Sibirskiy Cement") of which "Sibkonkord" is a shareholder.

For example, this publication states that Italcementi Set Group sent a letter to the President of Russia V.V. Putin with a request to interfere in the arbitration proceeding between Italcementi Set Group and "Sibcem".

In fact, there is no litigation between "Sibcem" and Italcementi Set Group. Russian Arbitrazh courts have received a claim from "Sibkonkord" against Ciments Français and "Sibirskiy Cement" for the annulment of a contract of purchase of Ciments Français Turkish cement assets, dated 26.03.2008, and repayment of deposit of 50 mln. Euro.

The interpretation of the litigation between "Sibcem" and Ciments Français, presented by RUXX, reflects the position of only one party of this proceeding and "Sibkonkord" therefore views it as a distortion.

The comments of "RUXX analyst Ilya Lushnikov", given in the publication, contain, what we believe to be, unfounded accusations of corruption against the executives of "Sibcem" and Russian and foreign judicial authorities, and unreliable economic information. For example, OJSC "Angarskcement" is not a "subsidiary of "Sibcem". In fact, "Sibcem" holds 29,9% of shares of "Angarskcement".

"Sibkonkord" considers it necessary to publicly reject the information in the RUXX publication as provocative and incorrect. On June 1, 2012 Italcementi Set Group issued a formal appeal to Russian and foreign mass media after the RUXX  publication. It says: «Italcementi Group refers to false and unsubstantiated rumors that have recently appeared on Russian press concerning alleged communications addressed to Russian political authorities seeking their support in the pending litigation in Russia with Sibirskiy Cement. Italcementi Group denies that it has in any way - directly or indirectly - contacted political authorities in Russia». This quote was published on the RUXX site as a "correction" to the article (http://www.ruxxindex.com/home/2012/5/26/correction-ruxx-western-companies-appeal-to-russian-presiden.html).

FPS "Sibkonkord" is sure that Italcementi Set Group and Ciments Français are not involved in this incident which is, in our opinion, initiated by third parties in order to discredit the reputation of "Sibcem", influence the international public opinion and Russian judicial authorities.

SOURCE FIC Sibkonkord