In Astrakhan region there took place a meeting of the board of directors of “Shipbuilding Yard “Lotos” JSC. At the meeting the major shareholders and the members of the Government of Astrakhan region discussed the stages of the anti-recessionary program at the yard.  

In 2008 “Shipbuilding Yard “Lotos” JSC turned out to be in hard economic environment which requires immediate deploying of the program of the yard financial recovery.  The anti-recessionary program developed by the company management in march this year was approved by the members of the Government of Astrakhan region and major shareholders in the person of the State and CNRG Group. The anti-recessionary measures first of all focus on optimization of the yard structure, refusal from non-core objects and loss-making activity of the joint-company.  According to the forecast of the project authors significant decrease of indirect expenses in the production and administrative activities of the yard during two years will result in rather financial economy and recovery of the market positions of the company.

The management of the yard reported in its report of the progress of the anti-recessionary program implementation that from 09.07.10 the salaries payable have been started to be settled in accordance with the schedule approved by all the parties involved. Konstantin Markelov, the head of the Astrakhan region Government, also proposed to supplement the anti-recessionary program with the article about engagement of “Shipbuilding Yard “Lotos” JSC personnel into public works through the local authorities.

As saying the general director of CNRG Group Ilya Kokarev: “taking into account that “Shipbuilding Yard “Lotos” JSC is not capable to participate in large commercial projects in its own, according to the strategy of the financial recovery of the yard there will be placed an order from the production site of the Group – Astrakhan Shipbuilding Production Association. Steel for construction of the half of the tanker hull has been loading to the “Lotos” shops for the moment already”. 

  By the unanimous consent  the members of the board of directors of “Shipbuilding Yard “Lotos” JSC instructed the yard management to continue realization of the anti-recessionary program and to complete it with the plan of orders involving to the company with regard to the current situation of the yard and the industry in total.

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