The Ural Mining And Metallurgic Company (UGMK) has bought a 48% share of the Serov Metal Works from Promstroybank (Saint Petersburg). The President of UGMK Andrey Kozitsin told RBC that "changes at the Serov Works, from which some assets and equipment were illegally transferred, must be expected soon". He has warned the Director of the Works Anton Bakov about it, but the Director "did not understand this", Kozitsin said. The problem of suppliers of the raw materials will be one of the first problems to be resolved, Kozitsin pointed out. According to him, representatives of Kachkanarsk Concentrating Plant and Gorno-Blagodatsk Ore Directorate said that they were ready to cooperate with the new management of the Serov Metal Works.