Businessman Seyfeddin Rustamov is main beneficial owner of chemical company ‘Metafrax’

06 December 2017

The Russian newspaper ‘Kommersant’ recently announced that the 55-year-old businessman Seyfedding Rustamov is the main beneficial owner of Metafrax, one of the largest chemical companies in Russia and Europe. Rustamov, born in Azerbaijan, is now a resident of the US, together with his wife and three children. Since the year 2000, he has been actively involved in the chemical industry. He is the manager of the Russian company MetaHolding, which holds this year 94% of Metafrax’ assets. This makes Rustamov the main shareholder of Metafrax.

Metafrax is with multiple companies in both Russia and Europe the largest producer of methanol, formaldehyde and synthetic resins in Russia and Europe. The headquarters of the company are in Gubahka, Perm Region Russia. Seyfeddin Rustamov already became the beneficiary of the chemical plant at the headquarters in Gubahka in 2014. This was made public during a presentation on a large-scale project at Metafrax, which has an estimated cost of around 800 million euros.

This large-scale project is the development of an ammonia, urea and melamine plant construction. Right now, the company is still in discussion with banks about the financing of this project. Metafrax has an annual revenue of over 660 million USD (5 billion rubles). Every year, the company receives around 80 million USD from investments. The products of the chemical company are shipped to as much as 50 countries worldwide.

The company used to keep its beneficiaries secret from the public. The main shareholders would be represented by the chairman of the board of directors, Armen Garslyan. The company has now presented information on its main beneficial owner to the public, because of changes in legislation. Changing requirements of Russian and international compliance laws now made it necessary for the company to reveal this information. A domain with the name of Seyfeddin Rustamov was registered on ‘Go Daddy’, one of the biggest registrar of domain names, on the 18th of September, 2017.

Before MetaHolding became the biggest shareholder of Metafrax, the Cypriot company ‘Lipanet Ltd’ was the main major shareholder of the company. Other shareholders were ‘JSC Sibur’ and the Panama-registered ‘Mirvac’. Armen Garslyan told the Kommersant that Seyfeddin Rustamov, as the main beneficial owner of Metafrax, is involved in the global decision-making process of the company. He called Rustamov a ‘vigorous leader, who knows what we are doing, what our targets are and who accompanies us on our way towards them’.

Rustamov is besides chemistry, also taking part in philanthropic activities. He and his family support a number of non-profit foundations in the areas of health preservation, cancer control, and transplantology. The foundations Mr. Rustamov and his wife are involved in including the St. Baldrick’s Foundation, the Inova Health System Foundation and the Susan G Komen Breast Cancer Foundation. Besides charities that have to do with health, they also contribute to charity sports events, the National Museum of Women in the Arts and the John F. Kennedy Center for the Performing Arts in Washington.

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Business Pieces of Advice: Stepping Stones for a Startup Owner

Today, everyone wants to become an entrepreneur – or at least hopes to. Well, who doesn't like to introduce 'the next big thing?' But we can't blame them because owning a startup offers you tons of benefits – and that's obvious. For example, you get to bring value to the people around you. You create something right from the beginning. You are your own boss, and not to mention, you make a decent number of bucks along the way. However, all of this happens when you're successful, which unfortunately isn't true for most cases. For example, the Harvard Business Review states that 75% of startups fail. But why? Sadly, not all of us have an entrepreneurial spirit within us – at least, nature didn't allow it. However, if you want to run a business successfully, you've got to get your act together. That means doing something that your nature doesn't approve of, so be it. Otherwise, you'll end up eating the same piece of pie the 75% of entrepreneurs are eating. Here are some business pieces of advice that'll help you become a successful startup owner. Know your Instincts! You should know yourself, what you're willing to do to attain success, the amount of money you can afford to lose, and your proper motivational level. Undoubtedly, we're all here to at least hit that one million marks. But are we ready to give up things to accomplish that goal? How far will your family support you? How far from your comfort zone are you willing to go? How many hours a week will you be able to devote? If you want to become successful, or come anywhere close to it, keep your business plans aligned with you and your family's resources and goals. Learn how to this through the AACSB Online MBA with No GMAT program. It will teach some administrative skills to run a business adequately. Be passionate: Nobody is asking you to love all aspects of your business (nobody can), but whatever you do, do it with all your heart. If you want to build a successful enterprise, you'll need to put in some effort and devote much time. That is why you should be passionate about what you do, whether offering financial advice, creating pottery, or running fishing charters. How can you ensure you're on the right track? By questioning yourself whether your business is worth the investment, you're making in terms of both time and money. If not, you're better off doing something else. Keep the positive vibes around you. Plus, say goodbye to those people who put you or your business down. Don't waste your energy and time defending yourself – use it on your business! Be a solution: Instead of basing your idea around what to sell, think about how it will become a solution. If your business is solving a problem, you'll gain a solid customer base more efficiently. Why? Because your venture will be bridging a gap in a specific niche or market. Going with your passion alone isn't going to cut it; your idea should help the people. For example, suppose you're passionate about accounting. In that case, you might design an affordable, easy-to-use payroll and accounting software that many people would like to invest in and be a part of it. Give yourself some time and think about why you're opening your business. If you're able to understand your motive well, you'll be able to market your company and build a brand. Just do one thing: determine what problems your target customers are currently facing and what you can do to solve them. Start your business during your employment: Without money, nobody can go far. Plus, your business won't immediately offer your returns – you've got to invest in it first. If you start your business while you're employed, you'll have money to invest in your industry. It will also help you meet your monthly living expenses even if your business doesn't readily offer returns. Diversify: Diversity will help ensure you don't put all your eggs in a single basket. Discover other options, for example, sister products/services that you can add to your offerings to lure and retain more clients. It won't just amplify your revenue and produce enough during times your business doesn't do well. Plus, diversification will allow you to cross-market by increasing your bottom line and offering consumers more value for their money! Keep networking: If you find it challenging to get your business off the ground, connections will keep it afloat. Therefore, it's advisable to make connections and record every person you interact with and ask for their suggestions and assistance. Remain in touch with them and build your network – it'll help you. Research your competitors: Regardless of the type of business you're operating or thinking to start, you'll have competitors even if there's no other business with the same offerings as yours. There would be different products/services your target market may get used to to satisfy their needs. To be successful, you'll have to research your competitors and determine what they sell and how. There's no particular time when you should do competitor analysis, but it must get done now and then. However, if you don't have any competitors, that's a warning sign. See if whatever you're planning to sell is something that people would like to spend their money on or not. Have a solid financial plan: It doesn't matter whether the company is small or big; it needs to work out how it will manage its finances. Suppose you want your startup to survive in this economy and out-compete your competitors. In that case, financial management should be one of your primary activities. Don't use your revenue for personal expenses; manage your expenditures and cash flow, and have reserves for steady seasons. Maybe, exercise caution – hire a bookkeeper or an accountant if you have to. It will help you complete your financial tasks, allowing you an opportunity to focus on other parts of your business. Conclusion: As your startup comes to fruition, think of it like you're driving a car. Let your mind control the steering wheel, and your passion hit the accelerator. By doing this, you wouldn't just be confident about the path you take and sustain the momentum you need to arrive at your destination. Best of luck! Read Also: Launching a Business? Hire These 5 Professional Services for Help Basic Small Business Tips for Noobs Who Want to Start a Venture in 2020 Startup Business Management: How to Effectively Incorporate Use of SEO How To Become A Successful Businessman

Things to Consider When Sourcing Employees for Manufacturing Plants

When setting up manufacturing plants, there are many things you have to keep in mind as far as hiring people for the work is concerned. This is skill-intensive work that requires the most qualified people on the job because there are many machines involved, and any slight mistake could lead to disaster at the workplace. Any slight job has to be done by trained individuals, be it dealing with an arm for robotic polishing, welding, or picking and placing, there can never be room for errors. So how do you go about hiring these levels of workers? What are the qualities you use to gauge their qualifications? The following are some of the ways you can get this done. Their Skills and Qualification Levels Where heavy machinery is involved, caution has to be exercised in the hiring process. The people who are to deal with that section of the work have to demonstrate their skills and qualification to the utmost level. This will help you know the exact kind of work they will be tasked with. Getting the wrong people for the wrong job is one of the many reasons why there used to be many accidents at the workplace in the past. The best way to go about this would be to get them to do a practical test since relying on the qualifications displayed on paper may not be reliable. The hiring process has to be thorough because there’s a lot at stake. The Positions Available You need to have a clear image of what you want in mind beforehand. What position is in dire need of being filled up? How many people do you need? Do you feel like increasing the number of people would be better or would reducing that number be more sensible? The hiring process should be instituted out of need, not out of a whim, considering how expensive it is to get new people in, trains them while paying them before they finally settle into their roles. Therefore, before advertising for any particular position, ensure that there’s actually an urgent need to have that particular area to be addressed immediately. Salary Demands You may have a say on how much you want to pay, and this can even be indicated in the job listing. However, you have to be aware that for you to land the right worker, you will have to make concessions on the salary cap. The best people in the job market will always demand higher wages and may try to negotiate that number up. As long as it is within your company’s projections, you should always be ready to at least bump that salary cap a little higher if you are convinced that the individual in question has what you are looking for. Good employees are hard to find, and when one walks through your doors, you should seize that chance. Labour Laws There are many labor laws that are created to protect the employee from exploitation. You have to be well versed with all these laws depending on where you are located and make sure you don’t get into trouble with the law. It is common for many employers to find themselves in trouble later on because they lacked the initiative to familiarize themselves with simple labor laws. What you need to keep in mind is that a fallout of this nature, later on, can be very costly for you and your company. Cases of companies collapsing due to making huge payouts after being sued are very common. Safety Precautions Safety inside the manufacturing plants is dealt with in two ways. Both the employer and the employee have to play a role in ensuring that the working conditions are within the confines of the safety protocols. On the employer’s part, they have to provide the right working clothes complete with protective gear like helmets and gloves. They also have to install emergency safety buttons that can shut down the machines on the spot in the event someone is caught up. On the employee’s part, you have to make sure they understand how factory work is conducted, the last thing you would want is a reckless person running heavy machinery. If it happens they get injured while on duty, the responsibility to compensate them will rest on your shoulders, and that can be costly. Interpersonal Skills Manufacturing plants usually employ a lot of people, hundreds of workers can be sharing the same space for hours each day, and this means that the interpersonal skills have to be good because they need interactions with each other to get things done the right way. Communication is one of the most important aspects in the workplace, and being able to pass around information and instructions forms the backbone of efficiency. Everyone you hire has to demonstrate the ability to understand what they are told as well as the ability to communicate with fellow workers in a clear way. Conclusion Hiring workers for a manufacturing plant is one of the most complicated things you can ever do as an employer. The success or failure of your enterprise is heavily influenced by the type and nature of people you end up hiring. Therefore, it should be well planned in advance if you want to stand a chance of getting the right people for the job. Read Also: Possible Reasons Why Your Employees Aren’t Too Productive and What to Do About It What Are the Ways to Prepare a New Employee? 7 Best Employee Recognition Awards Ideas For 2021

7 Tips to Choose Ergonomic Office Chair

Did you know that the average person spends 1,700 hours each year behind their desk? What does this mean for you? It means that your daily office habits are slowly killing you. If you're not using a comfortable office chair, you'll end up with long-term health and pain issues. Your posture could be affected as well. You've become prone to other chronic health and pain problems. Your spine will twist and transform as a result. Chronic back pain is an ongoing problem that can lead to other problems with other areas of your body. Common problems related to back pain include muscle ligaments and spinal strain. Finding the right office chair can pose a challenge when there are so many manufacturers on the market. It can be hard to find the right one when there are hundreds of ergonomic chairs. Not every chair is made the same way. Some of the ergonomic chairs don't live up to the hype and performance in regards to performance. They hardly provide you with a comfortable place to sit at work. Not only should you find an office chair that meets your ends, but it should also meet your business's budget. It's one of the most important investments you'll make. The right office chair can impact the health and productivity of your employees. Office chairs are important for productivity since they can reduce the hours lost from pain or injury. You no longer have to take time out of work because of your back pain or health problems. When shopping for the right ergonomic chair, you should keep the following factors in mind. This guide can help you shop for the right ergonomic office chair. Here are seven tips for choosing an office chair. Adjustability & Height When shopping around for the right ergonomic chair at Melbourne Outlet, you should look into its adjustability. An adjustable chair allows you to explore numerous levels of comfort. Are you someone who's taller than average? While average height may feel comfortable at first, you may want to adjust it to your liking. One of the most important keys to an ideal ergonomic chair is that it should be adjustable. The seat should be able to adjust up and down as well as side to side. This is important for achieving the right height and posture for when you're sitting all day long. Find an ergonomic chair that adjusts to your height. There are chairs that come with limited adjustability. But there are some chairs that use gas cylinders that provide height adjustment. This allows you to adjust the seat to reduce pressure on your knees and lumbar spine. But adjusting your chair shouldn't be complicated. Since you know the importance of adjustable ergonomics chairs for health and productivity, it's important to have a chair that's easily adjustable without the use of tools. Don't be afraid to ask the salesperson for a demonstration or see if you can adjust the chair yourself before buying. Depth & Width Next, you need to look into the depth and width of the chair. Place two fingers between your knees and the front of your seat. If it's less than 1 inch, then it's not the right chair. The right ergonomic chair should provide you 1 inch of width. The average width on some of the best ergonomic chairs ranges between 17 inches and 230 inches. Back Support You can't have an ergonomic chair if it doesn't support your back. The backrest is the most important feature of the chair. The ideal backrest should be 12 inches. In addition, the backrest adjustability should lock into place to provide your back with stable support. Every office chair should come with a full back. It should also provide you with a wide variety of positions, such as height, lumbar support, and recline settings. It prevents slouching and places less pressure on your spine. The chair's adjustability should come in a recline function that ranges from 110 to 130 degrees that accommodates your body weight. This reduces pressure, thus preventing back pain. Armrests It's important to find an ergonomic chair that comes with adjustable or removable armrests. What's even more ideal is finding armrests that are padded. When shopping around, test out a chair that has armrests that can range from a height of 7.1 and 10.6 that provides enough support for your arms. Padded armrests that adjust to different widths offer maximum comfort. Head Support The ideal ergonomic chair will provide you with head support. Every office chair should come with an active headrest. It should also adjust to prevent neck pain. Swivel Swiveling is imperative for getting around your office. Does your office chair have swiveling capabilities? Staying in the same position all day long is not healthy. You need an office chair that allows you to swivel around as you conduct work. These swiveling capabilities encourage blood flow and prevent fatigue which could lead to health problems. When you have an ergonomic chair that rotates, you won't strain to reach certain areas of your desk. Weight Capacity & Stability You need to find an office chair that's able to hold your weight. It should also be able to support different weights in case you gain some extra weight. The manufacturers of these office chairs provide weight specifications. Most office chairs can accommodate up to 330 pounds. Stability is also important. There's no way to sit comfortably in a chair if it doesn't support your weight. Stability prevents accidents and increases its durability. Key features in stable office chairs include five spokes and a rubber base. In addition to stability, you can slide your chair across the floor without ruining it. Read Also: 9 Cool Things Every Marketer Should Have In Their Office Staying Safe In The Office: 8 Workplace Safety Tips Everyone Should Know Ready To Take The Leap Into Self-Employment? Here’s How To Set Up An Awesome Home Office

Businessman Seyfeddin Rustamov is main beneficial owner of chemical company ‘Metafrax’

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Business Pieces of Advice: Stepping Stones for a Startup Owner

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7 Tips to Choose Ergonomic Office Chair

Businessman Seyfeddin Rustamov is main beneficial owner of chemical company ‘Metafrax’

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Top 5 Types of Startup Business Loans

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