Uralvagonzavod’s Net Profit Exceeds 4bn RUR in Six Months

Uralvagonzavod Scientific & Production Corporation’s net profit came to 4.1bn RUR in the first six months of 2012. The company’s staff are trying to set a new production record of 27,000 units of railway vehicles, as the demand for such products is always high thanks to its great quality. The assembly departments meet their foreign contract obligations in due time and fulfill the government defense order as well, in fact, this order is 48% larger this year than a year earlier. The demand for civil goods is also growing, First Deputy Director-General Vladimir Shmakov announced at the meeting of the company’s head plant’s trade union meeting, Uralvagonzavod Corporation’s press service reports.

Uralvagonzavod’s impressive social load is more significant in many respects than that of many other Nizhniy Tagil-based industrial enterprises. For one, the company spent 557.74m RUR on social and local projects. It is by no means a coincidence that Uralvagonzavod Scientific & Production Corporation was declared the best primary employer of Nizhniy Tagil and the best enterprise in the field of social partnership in 2012. What is more, the enterprise primarily uses Nizhniy Tagil- and Yekaterinburg-based companies as its contractors for the introduction of the most advanced European machinery, which greatly promotes the development of SMEs in the two cities and in the region on the whole and encourages more revenues into the local budget.

The company’s production success couldn’t but result in the improvements in the workers’ living standards. The average wage came to 32,028 RUR in the first half of 2012 (compared with 20,064 RUR a year earlier). This is 31.4% more than the region’s average and 26% more than Nizhniy Tagil’s average. This average wage comes to four times the living wage set for Sverdlovsk Region and, while the minimum wage at the enterprise (10, 125 RUR a month) is 2.2 times higher than that set by the Russian Federation laws.

In the first half of 2012, 2, 234 people were employed by Uralvagonzavod, 57.8% of whom are people under 30. 15,026 workers were trained: this came to 55% of all the people in the company. Also, 73 department contests, 13 production contests, and 6 all-plant competitions were held within the Glory to the Man of Labor Program; 632 workers took part in these contests.

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