Motor Sich

looks for clients in the western states

The Zaporozhye producer of aviation engines the Motor Sich company after closing for it in the current year the Russian market in connection with a situation in the east of Ukraine and deterioration of relationship with the Russian Federation looks for clients in the western states, in particular, through contacts in Poland.

About it on Thursday, November 27, the Polish newspaper Rzeczpospolita writes, noting that the company this week held the presentation in Warsaw.

"On Wednesday at the Warsaw technical institute of military aircraft representatives of the Ukrainian aviation giant from Zaporozhye – «The Motor of Sichi» – tried to interest the Polish businessmen and the government the general business by projects in our country", – writes the edition.

As reported УНИАН, according to the Minister of Finance Ukraine Alexander Shlapak, sounded by it on October 28 during the international investment SP Advisors "A Fresh look at Ukraine" conference, the volume of losses of the Ukrainian exporters because of closing of the Russian market for the Ukrainian goods till the end of 2014 will make about 5 billion dollars.

On forecasts of experts, the volume of the Ukrainian export to Russia following the results of 2014 can decrease at least for 35 % taking into account cancellation of a duty-free mode of trade. Thus the negative balance of trade in the goods of Ukraine with Russia in the first half of the year 2014 made 2,46 billion dollars.

As a whole the Cabinet of Ukraine predicts falling of volumes of export from Ukraine in 2014 for 11,6 %, import to Ukraine – for 21,1 %, in connection with a situation in the east of the country and deterioration of relationship with the Russian Federation.

At the same time, the sales representative of Ukraine Valery Pyatnitsky noted that growth of the Ukrainian export to the countries of the European Union in the first half of the year allowed to compensate to a half of the losses suffered by the Ukrainian producers as a result of closing of the Russian market. Besides, Ministry of Economic Development and Trade prepared the list of trading restrictions concerning the Russian import which can be entered by Ukraine within countermeasures on trading restrictions of the Ukrainian export in the Russian market. These restrictions will concern 830 tariff lines and about 2,5 billion dollars will turn back losses for the Russian producers in volume.

Reference УНИАН. PAO "Cич Motor" (Zaporozhye) – one of the largest Ukrainian machine-building enterprises, makes aircraft engines for Mi-8/Mi-17 helicopters, Ka-226, planes An-70, An-124, An-140, An-148, Yak-130, etc., units for pumping of gas and the power equipment. The enterprise makes details for 95 % of aviation engines maintained in Russia.

"Motor Sich" in January-September, 2014 in comparison with the similar period of last year increased net profit under the International Financial Reporting Standard (IFRS) in 1,5 times – to 1,53 billion UAH from 991,63 million UAH.

In 2013 the enterprise reduced net profit under the International Financial Reporting Standard (IFRS) by 31,2 % – to 1,375 billion UAH.