Q&A | What is the impact of the economic and political crisis on "Sovelmash"?
16 marec 2022
You ask whether "Sovelmash" will be able to achieve the project goal in our volatile world: to complete the engineering center, receive profit from motor development and share dividends with the investors.
In a recent episode of the program "Expert Time", Dmitriy Duyunov noted that "Sovelmash" was better prepared for the crisis situation than many other companies: "The project has been geared precisely for this kind of development scenario. A few years ago we said that the economic model was breaking down, new economic relationships were coming in."
What actions have been taken to ensure the project development under the most difficult conditions?
• "Sovelmash" had purchased materials and equipment for the engineering center construction in advance, before the prices surged. This saved a huge amount of money for the project.
• The company's services are in demand both in the Russian and foreign markets, especially on the largest market in the world - Asia. The partner of "Sovelmash" Victor Arestov has set up ASPP Weihai and is engaged in modernizing motors by applying the "Slavyanka" technology in China. He's introduced the innovation to the government and business representatives. ASPP Weihai has been receiving state grants and other support. This means that China has a high regard for the technology. But the main goal of all activities performed by Victor Arestov is to promote the services of "Sovelmash" in the Asian market, since only the "Sovelmash" D&E can implement the full potential of the technology and organize a large-scale business of developing customized motors. For example, Victor Arestov has recently held talks on cooperation with the enterprises that produce a range of products for the major brands of power tools and household appliances. There is a high level of interest in the services offered by "Sovelmash", but in order to start cooperating, it is necessary to first complete the D&E construction.
• The project team has real experience of successful operation in the context of a crisis. Amidst the peak of the pandemic, when many businesses were closing down and construction sites were frozen, "Sovelmash" began building the D&E and continues to move toward its goal against all odds.
As we have repeatedly emphasized, the project is engaged in useful business, not politics. Our mission is to preserve the planet's ecology and help people earn profit from investing in innovations. This is what attracts investors and partners from all over the world.
Doing business, building the engineering center in the context of our volatile world is not easy. The crisis is making its adjustments to the project development: the implementation deadlines are being delayed and the budget is being increased. But at the same time, "Sovelmash" is making the most of what is possible. There is no doubt that it will implement the project.
Watch the video with the detailed answer to the question from Dmitriy Duyunov and share it with your friends and colleagues.
In a recent episode of the program "Expert Time", Dmitriy Duyunov noted that "Sovelmash" was better prepared for the crisis situation than many other companies: "The project has been geared precisely for this kind of development scenario. A few years ago we said that the economic model was breaking down, new economic relationships were coming in."
What actions have been taken to ensure the project development under the most difficult conditions?
• "Sovelmash" had purchased materials and equipment for the engineering center construction in advance, before the prices surged. This saved a huge amount of money for the project.
• The company's services are in demand both in the Russian and foreign markets, especially on the largest market in the world - Asia. The partner of "Sovelmash" Victor Arestov has set up ASPP Weihai and is engaged in modernizing motors by applying the "Slavyanka" technology in China. He's introduced the innovation to the government and business representatives. ASPP Weihai has been receiving state grants and other support. This means that China has a high regard for the technology. But the main goal of all activities performed by Victor Arestov is to promote the services of "Sovelmash" in the Asian market, since only the "Sovelmash" D&E can implement the full potential of the technology and organize a large-scale business of developing customized motors. For example, Victor Arestov has recently held talks on cooperation with the enterprises that produce a range of products for the major brands of power tools and household appliances. There is a high level of interest in the services offered by "Sovelmash", but in order to start cooperating, it is necessary to first complete the D&E construction.
• The project team has real experience of successful operation in the context of a crisis. Amidst the peak of the pandemic, when many businesses were closing down and construction sites were frozen, "Sovelmash" began building the D&E and continues to move toward its goal against all odds.
As we have repeatedly emphasized, the project is engaged in useful business, not politics. Our mission is to preserve the planet's ecology and help people earn profit from investing in innovations. This is what attracts investors and partners from all over the world.
Doing business, building the engineering center in the context of our volatile world is not easy. The crisis is making its adjustments to the project development: the implementation deadlines are being delayed and the budget is being increased. But at the same time, "Sovelmash" is making the most of what is possible. There is no doubt that it will implement the project.
Watch the video with the detailed answer to the question from Dmitriy Duyunov and share it with your friends and colleagues.