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New Company under Umbrella of Mining Machines

21.01.2013

The Antimonopoly Committee of Ukraine permitted Ukrainian Machine Building
Holding (UMBH), a holding company of Mining Machines, to increase its stake in
SvetShakhtyora machine building plant in Kharkiv. Thus, UMBH's participatory
share in the company increased from 20.7347% to 60.0021%.

On 5 December 2012 Serbia's Competition Commission also agreed a possible
increase in the UMBH's stake in SvetShakhtyora.

Integration of SvetShakhtyora into Mining Machines Group will enhance
competitive positions of the company. "Machine building companies have been
operating in the global market for a long time and it is necessary to build an
efficient production and service chain to win in stiff competition," stated
CEO of Mining Machines YevgeniyRomashchin. "Production sites
of Mining Machines ensure high quality of the manufactured equipment and a
possibility to offer clients products with the best QPR," he added.

SvetShakhtyora will focus on production of chain-and-flight conveyors and
plough units. This will help to strengthen technological and engineering areas
of the plant, which has been successfully producing this equipment for many
years. This will enable Mining Machines to offer clients long-wall complexes
consisting of the equipment, which is well known to miners for its high quality
and productivity.

As Mining Machines has got sales departments in Russia, Kazakhstan and
Vietnam and pursues a new policy for entering the new markets, SvetShakhtyora
will be able to increase export operations," believes Igor Fomenko,
Sales and Marketing Director of Mining Machines
. In addition, buyers of
the equipment manufactured by SvetShakhtyora will be able to use services of
Mining Machines maintenance departments, which will ensure high quality of
after-sales and post-warranty maintenance.

Profile:

SvetShakhtyora is the company producing mining equipment
including chain-and-flight conveyors and ploughs. In 2011, sales reached UAH
549.7m.


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