The Prime-TASS news agency reports that Russia’s Moscow-based truck manufacturer ZIL plans to become profitable in three years’ time. The report cited remarks by the company’s General Director Konstantin Laptev in the Vremya Novostei newspaper.
Go deeper with GlobalData
Laptev said the company plans to make a profit of about US $80 million by 2010, the paper reported, but it is not clear whether this is total profit for the period or annual profit.
Laptev was speaking on Wednesday at a meeting of the Moscow government’s industrial policy board, at which he presented an anti-crisis program for the loss-making company, the paper said.
The main proposal in ZIL’s anti-crisis program envisages the company leasing out most of its current production space, the paper said.
The plant has a production capacity of 250,000 vehicles a year, but currently only produces 10,000-15,000.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe company plans to increase its annual output to 50,000 vehicles by 2010, but this will require keeping only 70 hectares of the plant’s 350 hectares of production space, Laptev said as cited by the paper.
Most of the workshops will be moved outside Moscow, while only presswork, painting and assembly shops are to stay in the city, he said.
The company will then lease out the free space for different investment and industrial projects, Laptev said.
