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USC buys a controlling stake in Vyborg Shipyard

Saturday, 25 February 2012 | 00:00
United Shipbuilding Corporation (USC) has announced the acquisition of a majority stake in Vyborg Shipyard (VSZ), USC said Thursday.
United Shipbuilding Corporation was founded in 2007 as a 100-percent state-owned group of companies consolidating about 70% of domestic shipbuilding industry. UCS currently incorporates three regional shipbuilding centers, nine engineering and design offices and 39 dockyards. The Corp’s largest shipbuilding assets include Kaliningrad-based JSC Yantar Shipyard, JSC Admiralty Shipyards (St. Petersburg), JSC PA Sevmash (Severodvinsk), JSC DVZ Zvezda (Vladivostok). Besides, UCS holds a 50% stake in Arctech Helsinki Shipyard, a joint venture with STX Finland Cruise Oy.
USC posted for the 2011 period revenue of more than RUB 160 billion, net income of RUB 1 billion and portfolio of orders – 1 trillion rubles. The Corp. focuses primarily on the Russian market, but also exports its products to 20 countries.
Vyborg Shipyard (OJSC Vyborg Shipbuilding Plant) is a largest shipbuilding firm in Russia’s North-West region dedicated to building drilling rigs for offshore deposits development and vessels of small and medium tonnage.
Source: Port News
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