19 April 2004 08:44
OMZ TO OFFLOAD SHIP-BUILDING ASSETS
OMZ and the Silovye Mashiny or Power Machines concern announced a
merger on equal terms to be completed during 2004 at the end of year.
MOSCOW. April 19 (Interfax) - United Heavy Machinery (OMZ) is looking at plans to expedite the sale of ship-building
and other assets unrelated to power-engineering in a bid to optimize its investment portfolio and financial position,
OMZ said on its web-site.
OMZ said the merged company's strategy would be to concentrate on power engineering and the production of large
semi-finished products from special steels.
Efforts will continue to restructure Uralmashzavod to turn the
enterprise into a corporate structure, that is a group of product-
OMZ also said it continued to restructure its enterprises by spinning off the Kartex mining equipment division off
from the Izhora Works and one or two assembly shops from Uralmashzavod. These units would be incorporated in the
engineering company OMZ Mining Equipment and Technology.
In other words, a new firm will be set up that manufactures as well as sells mining equipment and provides
engineering services.
oriented enterprises.
OMZ also plans to create an energy marketing company by spinning generating capacity and infrastructure off from
Izhora Works.
[Interfax] |
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