Krasnoye Sormovo shipyard posts net income of RUB 337,8m.

Net income of MNP Group’s JSC Krasnoye Sormovo Plant (RAS) for the nine months of this year rose by 7.6% from results a year earlier, to 337,803,000 rubles, the company’s financial statement said. Revenue for the period amounted to 3,068,327,000 rubles, a 11.3-percent gain as compared with 9 months of 2009. The proceeds growth was primarily due to completion of more shipbuilding contracts in the reporting period.

Nizhny Novgorod-based Shipyard Krasnoye Sormovo Plant is one of the oldest Russian shipbuilding companies (founded in 1849). All vessels built at the Krasnoye Sormovo meet the requirements of MARPOL conventions, having the state-of-the-art equipment.

MNP Group (Sea, Oil & Gas Projects) is the Company Manager of shipbuilding projects. The Group incorporates Plant Krasnoye (Red) Sormovo (Nizhny Novgorod), Sormovskoe (Sormovo) Engineering (Nizhny Novgorod) and the Volga-Caspian Design Bureau (Nizhny Novgorod).

Plant "Red Sormovo" - one of the oldest Russian shipbuilding companies, founded in 1849. The shipyard has made a tremendous contribution to the development of submarine and domestic commercial fleet. Group of companies "MNP project is owned 52.33% of ordinary shares in the company, JSC Western Shipbuilding Center - 44.58%.