Companies@UA: База компаний Украины

Kyiv, July 31 (Interfax-Ukraine) – Kharkiv-based ElectroTiazhMash state company, one of the largest producers of turbine generators and traction electric motors in the world, in January to June 2009 sold products worth UAH 314.6 million, a 14.2% rise year-over-year.

The company's press service reported on Thursday that over the period under review the plant produced products worth UAH 370.1 million, which is 36.5% up from a year ago.

The deputy director of the plant for economic issues, Oleksiy Dovhy, said that the profitable operation of the plant and the effective use of circulating funds would make it possible to upgrade the plant, which, in turn, would increase the quality and competitiveness of its products.

He said that this year investment in the production facility development was estimated at UAH 33.2 million, which is 2.6 times up year-over-year (UAH 12.6 million).

Commenting on the results of the H1, 2009, the plant's director, Vitaliy Cherednik, said that the rise in production and sales was primarily the result of effective work to widen the company's order portfolio.

"We're operating all over the world, recovering lost market positions and entering new sales markets," he said.

Among the factors bolstering production and sales are investment in modern equipment nd improvements in the production planning system and delivery system.

State enterprise ElectroTiazhMash was established in Kharkiv in 1946. It is the only Ukrainian developer and producer of turbine generators for nuclear, thermal and hydroelectric power plants. It also produces powerful traction electric motors for railway and city electric transport, metallurgical mills, coal mines, road and construction machines.

The plant exports its products to over 40 countries.