EMAlliance's IFRS revenue might reach 16 bln rubles this year
TAGANROG. Sept 20 (Interfax) - OJSC EMAlliance expects to post 15 billion-16 billion rubles in IFRS sales revenue for 2011, the company's president, Timur Avdeyenko, told journalists on Tuesday.
IFRS sales revenue in 2010 came to 13.7 billion rubles.
According to Avdeyenko, the holding's contract portfolio currently comes to 55 billion rubles. The share of exports in total revenue will come to around 20% for this year.
Total investment in production modernization will come to 200 million-300 million in the next two years. "For the period from 2007, approximate investment came to 1.3 billion-1.4 billion rubles. Throughout this year, a total of 400 million-500 million rubles have been invested," he said.
The funds will be invested in upgrading technical processes and acquiring highly productive equipment, as well as equipping engineering operations with modern project technologies. The funds also go to personnel training.
OJSC EMAlliance produces and repairs boiler equipment for heat and electricity stations. The holding's main production facilities are OJSC TKZ Krasnyi Kotelshchik and Dguro Dgakovic. The company has branches in Taganrog, Podolsk, Barnaul and Ivanovo. Auburn Investments owns 100% in EMAlliance. The main beneficiary in this company is businessman Yevgeny Tugolukov.