Motovilikha Plants increased steel export to Europe fivefold with the support from Rostec

Motovilikha managed by Rostec’s RT-Capital increased the export of steel products to Europe more than fivefold in the first five months of 2021.

MOSCOW, RUSSIA, June 16, 2021 /EINPresswire.com/ — Motovilikha – civil machine building company LLC managed by Rostec’s RT-Capital increased the export of steel products to Europe more than fivefold in the first five months of 2021. During the reporting period, 900 tons of various steel types was shipped

Finland and Germany mainly import semi-finished steel products. Their share in Motovilikha’s total export to Europe is 90%. Overall, in the first five months of 2021, the plant signed contracts with European companies for shipping over 2,000 tons of semi-finished steel products of various types, mainly for the machine building industry.

“We have worked on expanding exports as an additional mechanism for stabilizing the financial position of the company. In 2021 we started supplying Motovilikha’s products to Germany. In the first five months we concluded contracts for exports worth a total of 720 million rubles. Until the end of the year we plan to increase revenue from export to one billion rubles. The company’s total revenue for the year will amount to about eight billion rubles,” said RT-Capital’s General Director Kirill Fedorov.

Apart from this, Motovilikha increased its presence on the CIS market. Over 75% of the plant’s product supply goes to Kazakhstan, Uzbekistan and Belarus. These countries actively purchase drill pipes, pump rods and railcar axles.

“We have analyzed the situation on the market for railcar axles used for making wheel pairs for railcars and decided to increase production of our own semi-finished axles for Russian and foreign companies. In the five months of 2021, the plant increased the manufacture of this type of products by a third to supply it to Kazakhstan,” added Director of Motovilikha – civil machine building company LLC Sergey Dyadkin.

Motovilikha – civil machine building company LLC makes civilian products as part of Motovilikha Plants group of companies. It produces pump rods, heavy drill pipes and kellies, and a wide range of steel products.

RT-Capital is a subsidiary of Rostec for non-core and problem assets. The company deals with debt restructuring and financial recovery of Rostec enterprises, and property management. RT-Capital manages assets in various forms of ownership and purpose.

Rosteс State Corporation is one of the largest industrial companies in Russia. It unites more than 800 scientific and industrial organizations in 60 regions of the country. Its key areas of activity are aircraft engineering, radioelectronics, medical technologies, innovative materials, etc. The corporation’s portfolio includes such well-known brands as AvtoVAZ, KAMAZ, UAC, Russian Helicopters, UEC, Uralvagonzavod, Shvabe, Kalashnikov, etc. Rostec is active in the implementation of all 12 national projects. The company is a key provider of Smart City technology, it is engaged in the digitalization of public administration, industry and social sectors, and it is developing plans for the development of 5G wireless technologies, an Industrial Internet of Things, big data and blockchain systems. Rostec partners with leading world manufacturers such as Boeing, Airbus, Daimler, Pirelli and Renault. The corporation’s products are delivered to more than 100 countries worldwide. Almost a third of the company's revenue comes from the export of high-tech products.

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Source: EIN Presswire