Agromashholding, Largest in Russia Private Machinery Company, Is Being Created

The creation of the Agromashholding private machinery building company, the largest in Russia and the CIS, by the Siberian Machinery Holding, continues. The initiative has the complete support of Alexei Gordeyev, Russia's Minister of Agriculture.

According to what Yuri Koropachinsky, President of the Siberian Machinery Holding said to Rosbalt's reporter, the new company, whose output will be cheaper than imported products, is about to begin shipping grain and other combines, diesel engines and complete sets of spare parts to agricultural producers. The company will also service what it produces.

Agromashholding already includes the Krasnoyarsk Combine Plant, the Volgograd Tractor Plant, the Altai-Diesel plant, the Agricultural Machinery Plant in Nazarov, Krasnoyarsk Territory, the Oryol Combine Plant, and the Kostanai Diesel Plant in Kazakhstan. According to Mr. Koropachinsky, other companies in Russia, Ukraine, and Kazakhstan are about to join in. When these companies begin working as a team, they will cover 45% of the total demand for combines and up to 70% of that for caterpillar tractors and diesel engines. The holding already employs 22,000. Its annual turnover is over USD 200 million.