LuhMash-43 LLC Luhansk mechanical engineering plant specialized in production of high precision mechanical parts and engineering assemblies has relocated its production to Russia's Chuvash Republic, according to 'Vesti' Russian Internet publication.
“The company’s management had to make a difficult decision to relocate production to Russia after its workshops were almost completely destroyed as a result of artillery shelling. A proper location has been found now, equipment is being plugged in, the canteen has been refurbished,” the publication reported on Aug. 27.
According to the statement, LuhMash-43 has been basically working for the Russian market for 12 years, thus its owners decided to evacuate to Russia together with plant’s personnel and equipment.
“The workshops were fired at, and (we) had to evacuate the equipment under fire… However, half of the equipment got stuck at a customs warehouse in the Russian (city of) Donetsk,” reads the statement.
According to plant’s Executive Director Nikita Druzyev, the whole “key staff” of the company moved to Russia.
According to the State Statistic Service of Ukraine, up to 20,000 people worked at the plant.
LuhMash-43’s core business is production of high precision mechanical parts and engineering assemblies for machine building, petroleum, geological survey and mining industries. In addition, the plant also develops and manufactures irregular machine building equipment, press tools, etc.
In 2013, the plant’s net profit amounted to Hr 3.4 million (in 2012 – Hr 4.9 million). Plant’s owners are Russia-based “Donetsk Machine Builder” PJSC registered in Moscow (51 percent of the shares) and Druzyev family (the largest share belongs to Russian citizen Sergey Druzyev – 24.3 percent).
