Deutsche Bank today announced its appointment as depositary bank for the Global Depositary Receipt (GDR) program of Russia-based Open Joint-Stock Company, Sofrinskiy Experimental Mechanical Plant (JSC Sofrinskiy).
JSC Sofrinskiy is a large manufacturing plant in the Russian Federation, occupying more than 7 hectares and dedicated to the production of welded tin cans. It was constructed in the Moscow region in 1963 and in 2000 it was renovated with modern equipment, including 4 automated production lines installed and mounted by a large European producer. With most of JSC Sofrinskiy's staff trained in Europe, the plant produces more than 30 different products, from standard size tin cans to canister size. It has a capacity to produce 1500 cans per minute.*
Akbar Poonawala, Head of Global Equity Services at Deutsche Bank said, "We are delighted to be appointed as the depositary bank for JSC Sofrinskiy's GDR program. We look forward to working with JSC Sofrinskiy in the management of its program and are pleased to expand our portfolio of Russian GDR issuers."
*Source: Sofrinskiy Experimental Mechanical Plant (March 2012)
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Deutsche Bank AG Press & Media Relations Nick Probert
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