The year 2010 was successful for URALVAGONZAVOD

The final meeting of the Centre for Corporate Control (CMC) Corporation "Uralvagonzavod" and business leaders, companies, design offices and institutions that are part of an integrated structure. The meeting summed up the work in 2010 and identified as a priority for 2011.

The meeting was opened CEO of Oleg Sienko. In his opening remarks, he said that, on the whole, 2010 was a successful year for the "Uralvagonzavod". Total revenue of all companies affiliated with the corporation exceeded $ 100 billion, and net profit of more than 10 billion rubles.

Today we can definitely say that the stage of construction of the integrated structure is completed and there comes a stage of consolidation. This in their speeches said Deputy General Director for Corporate and Legal Affairs Igor Fomin, Deputy General Director for Economics and Finance Ruslan Kondrashov.

Ruslan Kondrashov talked about some of the economic results of the year. In particular, it was possible to reduce the amount of loans to 16 billion rubles, while significantly reducing the average interest rate. Another important factor — the ratio of debt to EBITDA — in 2011 should not exceed 2. This year, the same objectives have been met by higher wages, which in December "Uralvagonzavod" exceeded 22,000 Rubel. The following year, the average salary in the corporation shall be not less than 23 500 rubles.

Summarized the work in the past year and outlined plans for the 2011 Head of Division zheleznodoronoy technology CMC, Deputy CEO Andrey Shlyonsky. He said that in 2010 will be produced nearly 20,000 pieces of rolling stock, and planning a landmark in the coming year — not less than 24,000 units. From next year, cars will be produced in the same area on the Omsk Corporation (JSC "KBTM").

The meeting was also discussed that the shortage of casting Corporation is taking steps to resolve the situation. Among these steps, and the acquisition of French plant «Sambre et Meuse», and the involvement of other powers ploshadok corporation.

On the status and prospects of the development direction machinery division head told a special technique CMC, Deputy General Director Vyacheslav Halitov Corporation. He, in particular, reported that the state defense order in 2011 in terms of money has not decreased. In addition, by Division before facing a number of challenges for the new developments.

In conclusion CEO Oleg Sienko said that if the purpose of the work in 2010 was, above all, financial stability, then in 2011 — will be a year of dynamic development.


Note from Carbon Mucus: As we can see, panicky rumors that UralVagonZavod left without defense contracts for next year does not correspond to reality.

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