Nasosenergomash (SNEM) Announces Rapid Growth In 2004
6 June 2008
SNEM increased net revenues by 49.2% to USD 17.5 mn in 2004 and posted a net income of USD 2.3 mn, compared to a loss of USD 0.48 mn in 2003. This year, the company plans to increase sales and output to USD 22.6mn, based on increasing demand for its products in Ukraine. Nasosenergomash produces pumps for thermoelectric and atomic power stations, oil mining and transportation, metallurgical, machine-building and chemical industries. Sumy Frunze Machine Building owns 24.9% of SNEM, 20.73% belongs to Russian Hydraulic Machines and 24.96% to EstanyFinance off-shore.
