Rus News Journal

CUPID on sale

Yesterday it became known that the Sverdlovsk arbitration court has entered competitive manufacture at factory Cars and motors of Ural Mountains (the CUPID, Novouralsk). Three largest creditors of the enterprise who expect to return the means after sale of its property have insisted On it. The administration intends to challenge the given decision and to prolong external management in which frameworks promises to realise several large-scale projects with foreign investors. Analysts consider that such measures hardly will help factory to repay debts, and as a result Chineses will apply for its purchase, most likely.

that on the CUPID competitive manufacture is entered, it became known during visit to Novouralsk and. The island of Sverdlovsk governor Anatoly Gredina which has urged administration to challenge this decision and has promised comprehensive support. We will remind, problems at the enterprise have begun more two years ago against an economic crisis. Attempts to stabilise a situation at factory were undertaken repeatedly, but possibilities to repay debts to creditors who exceed 3 mlrd roubles, at a current ruler of production at factory are not present - has explained the director for Joint-Stock Company public relations the CUPID Ekaterina Hajmenkova. As she said, the enterprise product has become outdated, and manufacture, burdened by the Soviet infrastructure, it is unprofitable . In this connection the external management which has lasted 18 months has been entered. And in December of last year at general meeting of creditors the decision on prolongation of external management, but under petition VTB, the Ural bank of reconstruction and development (UBRiR) was accepted, and also the court has made of tax service the decision on introduction of competitive manufacture - she has added.

Joint-Stock Company Cars and motors of Ural Mountains it is located in Novouralsk. Specialises on release srednetonnazhnyh lorries and a special equipment. The enterprise is capable to let out to 15 thousand cars a year. The basic owner Pavel Chernavin.

the CUPID tries to find for a long time already the partner for realisation on the capacities of the large investment project. In particular, in 2010 the agreement on intentions on release of trucks Midlum has been signed from Renault Trucks. However in July, 2011 the project has been suspended, as the parties could not co-ordinate type of the engine which will be used. Besides, the CUPID carried on negotiations for release of technics with the Chinese company FAW, but on their results was informed nothing. According to the proprietor of factory Pavel Chernavina, at the moment there are negotiations at once with two potential investors - Slovene concern Troliga Bus and the Chinese motor-car manufacturer Lifan. He assures that Slovene partners together with the CUPID in January will give detailed business - the plan on manufacture at the enterprise of passenger buses, and Chineses are ready to enclose in modernisation of manufacture of 100 million roubles.

creditors among whom appear VTB, UBRiR, Russia Bank Investbank and also the proprietor of the enterprise Pavel Chernavin, refuse to make comments on a situation at the enterprise. Informally representatives of creditors underline that they do not have intentions to liquidate factory. in our opinion, external management was inefficient. Thanks to competitive manufacture for factory the investor who within the limits of procedure will buy the enterprise without debts can be found, and creditors can return the money - one of creditors of the CUPID has told, having noticed that the arbitration managing director insisted on the given procedure also. Thus creditors assume that competitive manufacture is unprofitable to mister Chernavinu who will lose control over the enterprise.

branch analysts are assured that end of bankruptcy of factory will help not only to return money to creditors, but also it will be useful for the CUPID. huge debts to the enterprise will return extremely difficult, even provided that the factory will find the profile investor. Bankruptcy of the enterprise will allow to relieve it of debts and to sell to the same investors who now show interest to its capacities - the senior engineer " believes; the inzhiniringovoj company 2ʓ Andrey Pravdin. Thus it has not excluded that, considering special attention to a situation as from regional, and the federal authorities, as a result the court can cancel competitive manufacture. According to an analyst Investment cafe Cyril Markin, introduction of competitive manufacture will negatively be reflected in perception of the CUPID by existing and potential partners. in case of sale of capacity of factory will be interesting to those foreign partners which want to develop the business in Russia. It is the thus most probable that it will be applicants from China as this country dynamically develops and masters machine-building branch - he has noted.