Sumy Frunze Increases Production By 25% To USD 294 mln in 2005.
8 February 2008
Nearly 90% of the company’s production was exported. Sumy Frunze (SMASH: U/R) made compressed gas plants for Turkmenistan, Iran, turkey, Azerbaijan, delivered products to Russia’s Gazprom and Rosneft. Last year the company invested USD 11.3 mln in its development, including USD 5.5 mln in technical re-equipment, USD 1.3 mln – in experimental-engineering projects, USD 4.5 mln – in construction. Sumy Frunze also announced plans to restructure in 2006. Units, not directly related to the company’s major products, including a workshop for industrial clothing production, a transportation unit, canteens, etc. will be separated into Ltd companies, 100% owned by Sumy Frunze, so that in addition to servicing the needs of Sumy Frunze they will also be able to earn additional revenues.
