Business news from Ukraine

SMG SHIPBUILDING COMPANY OF SMART-HOLDING INCREASES PRODUCTION BY 49% IN 2016

26 January , 2017  

KYIV. Jan 26 (Interfax-Ukraine) – Shipbuilding company Smart Maritime Group (SMG), part of Smart-holding, in 2016 increased production by 49% compared to 2015, to UAH 395 million, the press service of SMG has said.

According to the report, in 2016 Kherson Shipyard, part of SMG, provided the building of a SEA ANT multipurpose oil skimmer under the HM 440 project on the order of Yuzhny branch of the Ukrainian Sea Ports Authority. In addition, last year SMG repaired and modernized 46 vessels, among which was the Mykolaiv border patrol ship of the State Border Guard Service of Ukraine.

According to the report, now SMG continues to develop the capacity of mechanical engineering and metal working: in 2016 its machine building plants fulfilled contracts for a total of UAH 9 million. Among the main customers are Metinvest group of companies, Yugcement.

Smart Maritime Group sub-holding (SMG) of Smart-holding belonging to businessman Vadim Novinsky, created in 2009, includes Chornomorsky Shipbuilding Yard (Mykolaiv) and Kherson Shipyard.

In July 2016 the Economic Court of Kherson region declared Kherson Shipyard bankrupt and started liquidation procedures.