News
On 15 September 2006 certain changes took place in structure of the share capital of Vyborg Shipyard JSC
On 15 September 2006 certain changes took place in structure of the share capital of Vyborg Shipyard JSC. The owner of major shareholding (75.6%) ZAO AKO BARSS Group transferred a part of its shares to a group of investors — natural persons.
Final restructuring of the share capital shall be completed within April 2007.
Main target of the transaction is seeking for outward investments for stabilization of financial standing of the enterprise, refilling of working capital, radical upgrading of production facilities, increasing of capacities, forming of order book based on offshore projects.
In the latest years, starting from 2000, Vyborg Shipyard has been involved in creation of new samples of offshore units for exploration and production of hydrocarbons on continental shelf, specialized ice-breaking tugs and tankers for transportation of crude oil and oil products.
Vessels have been delivered mostly to foreign customers and were meeting highest requirements on workmanship.
By results of 2006 sales volume of the enterprise will exceed 2.2 billion rubles.
No significant shifts in the management structure of the yard are expected till the end of 2006.
Extraordinary general meeting of shareholders of Vyborg Shipyard JSC is planned for 15 December 2006.
AKO BARSS Group, being a specialized shipbuilding holding, is maintaining an active position in the shipbuilding market and apart from traditional production is planning to take up more profoundly engineering and management of offshore projects.