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16.04.2008  
  Tatar-inform, Sergey Semerkin  
 

Positive estimation of OJSC "Kazanorgsintez" operation in 2007 by Rustam Minnikhanov


 
  OJSC “Kazanorgsintez” summarized the results of the Company’s operation in 2007 on its annual general shareholders meeting held with the participation of Prime Minister of the Republic of Tatarstan Rustam Minnikhanov.

As General Director of OJSC “Kazanorgsintez” Leonid Alekhin put it at his report, OJSC “Kazanorgsintez” had taken 40 percents of the total volume of polyethylene production in Russia according to the 2007 results.

Leonid Alekhin informed the audience on the development of modernization process of one of the leading chemical companies of Russia: “During the year under report, the works for the development of the existing facilities and construction of new ones were continued. We completed the construction of a Bisphenol Plant and launched the production of a new product – Bisphenol-A. These processes were developed alongside an increase in the physical volumes of production and an improvement in financial results. We have fulfilled all the tasks that were set in front of us in 2007”.

The General Director reported, as well, that total revenues of OJSC “Kazanorgsintez” made RUB 21.5 bln in 2007, showing an increase by RUB 5.8 bln or 37.3% if compared with the last year level. The Company earned RUB 2.6 bln of net income (RUB 2.2 bln in 2006). Physical index of industrial production reached 128.5% to the last year level. An increase in financial results was influenced by favorable environment in the markets of the key KOS products and an increase in volumes of production. Return on sales calculated by dividing net income made 12.1%. (Net Income to Sales Revenue (excluding VAT) made 12.1%.)

The structure of OJSC “Kazanorgsintez” production distribution looks as follows: RUB 15.6 bln of production was sold on local market with a 22% increase if compared to 2006. The larger part of sales on the market of the Russian Federation was realized in the Privolzhskij and the Central Federal Districts (93%). In 2007, the Company realized production for RUB 5.8 bln or 27% of the total sales. The volumes of export increased more than twice the 2006 level. The following countries are among the leading foreign importers of the OJSC “Kazanorgsintez” production: Ukraine, Finland, China, and Turkey, covering 67% of total export.

General Director of PSC “TAIF” Albert Shigaboutdinov, acting as the Chairman of the OJSC “Kazanorgsintez” Board of Directors, reported: “The Company has done a lot within the last year. The first stage of the modernization is completed; it serves as the basis for the further large-scale development of our Company”.


The Prime Minsiter of the Republic of Tatarstan gave his positive response to the results reached by OJSC “Kazanorgsintez” in 2007. On behalf of the government of the Republic he expressed thanks to the Company’s Board of Directors. The Head of the government of the Republic of Tatarstan said that this chemical colossus was one of the budget-forming companies of the Republic. In 2007, OJSC “Kazanorgsintez” accrued RUB 1.24 bln of payments to the budgets of all levels.

Rustam Minnikhanov specified the tasks for the future development of the company: “Within the next three years, we should prepare the solid base for the second stage of the OJSC “Kazanorgsintez” modernization. This year, the program of the second stage of the upgrade will be approved.”

The Company’s Development Program includes the improvement of quality and marketability of produced goods; development of quality management and ecology management system; maintenance of reliable and safe operation of production means; the improvement of industrial safety and working environment; the reduction of negative environment effects; the improvement of ecological safety; more efficient application of energy and material resources.
 
 
 

 

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