Uralmash JSC still having a hard time, claims Sverdlovsk Region Minister for Industry, Power Engineering and Science Vladimir Molchanov

‘One of the Region’s largest plants, Uralmash JSC is still having a hard time,’ Sverdlovsk Region Minister for Industry, Power Engineering and Science Vladimir Molchanov noted in his interview to UrBC representative.

‘The plant found itself in a crisis when it was segmented by the owners. Fragmenting the plant into smaller parts and selling them looks rather dubious; it has already led to a dramatic decrease in the number of the employees (from 14,000 to 3,700, or almost by a factor of four). The plant’s losses amounted to 500 million RUR in 2005,’ Mr Molchanov said.