Board of Directors AGC Bor Glassworks, located in the town of Bor, Nizhny Novgorod region agreed on a recommendation to the AGM not to pay dividends for the year 2009.
Of course, the general meeting of shareholders may not to heed the recommendations of the board and take another decision. The meeting will be held on June 25, 2010. The main shareholder is the group of Glaverbel, which owns 85.23% of shares.Bor Glassworks is one of the largest manufacturers of float glass, used for the production of insulating glass, whose consumption in 2009 decreased by 35%. Net loss Bor Glassworks for the first 9 months of 2009 amounted to more than 390 million rubles.