USC takes over Baltic Shipyard, CEO steps down
St. Petersburg-based Baltic Shipyard is now under the control of JSC United Shipbuilding Corporation (USC). The yard’s General Director Andrey Fomichev told PortNews that he has resigned but will hold the office of General Director of another shipbuilding firm Severnaya Verf.
Deputy Prime Minister of Russia Dmitry Kozak has visited Baltic Shipyard. The official told the shipyard employees that the government has settled the financing issue. Russian Govt will invest RUB 1.5bn in the construction of a floating nuclear power plant (FNPP) under the guarantee of USC.
USC’s Vice-President Valery Venkov was appointed Interim CEO of Baltic Shipyard.
JSC Baltic Shipyard (St. Petersburg) was founded in 1856. The yard specializes in the construction of warships, large tonnage cargo ships and diesel and nuclear-powered icebreakers. The firm is also building Ro-Ro and Ro-Pax vessels, chemical tankers, bulk carriers, etc.
United Shipbuilding Corporation, founded in 2007, incorporates three regional shipbuilding centers: JSC Western Shipbuilding Center (St. Petersburg), JSC Northern Center of Shipbuilding and Ship Repair (Severodvinsk), JSC Far Eastern Center of Shipbuilding and Ship Repair (Vladivostok), as well as leading marine design offices. United Shipbuilding Corporation also has a 50% stake in Arctech Helsinki Shipyard, a joint venture with STX Finland Cruise Oy.
The Corporation participates in several major international projects: construction of a new mega shipyard Zvezda-DSME through a JV with Daewoo Shipbuilding & Marine Engeneering (South Korea), the construction jointly with Yantai Ruffles (Singapore) of Vostok-Ruffles Shipyard. In 2010, USC posted total revenue of RUB135 billion. Currently, USC consolidates about 70% of the domestic shipbuilding industry. The Group focuses on the Russian market, but also exports its products to 20 countries.