Published: 11/21/1997

The Rybinsk Motors shareholders' meeting took place on 25 October 1997. It was devoted to working out a new strategic policy for the enterprise that currently employs 23,500 people. The meeting validated the decision of Rybinsk Motors council of directors dated 2 October, on appointing Yuri Lastochkin as a new general director. In his speech to the shareholders, Lastochkin said, "I am very proud to have been appointed. At the same time, I understand how large is the volume of work that me and my team have to do to make the enterprise the real leader of the Russian engine-building industry. We have to restore the positions that Russian engine-makers used to hold in the world's engine and power-generation industries, and to exclude competing western manufacturers from the Russian market". During the next three years the company's leadership hopes to keep the rise in the volume of sales at the level of 35-40% annually. To achieve that, the enterprise should obtain a modern control system able to provide effective management in the spheres of financing, production, new technologies and customer support. It is also planned to modernise the industrial base of the enterprise so that it would be fully capable of competing with that of the world's leading manufacturers. Moreover, the whole sphere of marketing, customer service and after-sale support should be radically re-organised. At Lastochkin's initiative, the meeting took a decision to prepare a plan on the development of Rybinsk Motors up to the year 2003. The work would be preceded by a thorough analysis of the current situation at the enterprise. The proposed plan should be ready for discussion at the council of directors in the first quarter of 1998. This year the total volume of sales for Rybinsk Motors is expected to exceed Rbs1.8 trillion. Major products are D-30-series engines for the Il-76 freighter, Tu-154M and Il-62M airliners. The company is actively entering the market for industrial turbines, offering various machinery with a capacity from 2.5 to 325 MWt. The joint venture between Rybinsk Motors and General Electric is mastering joint production of the CT-7 aero-engine and LM-2500 industrial turbine at the factory in Rybinsk, as well as parts for the CF-6 and CFM-56 aero-engines and Dash heat locomotives. (IN1197.5) (VK)

Article ID: 79