The Board of Directors of Severnaya Verf Shipyard has elected Anatoly Tyukov as Chairman of the Board, effective August 17, 2012, the shipbuilding company said.
St. Petersburg-based Severnaya Verf (Northern Shipyard) is a leading shipbuilding company of the Russian defense industry. The firm has been part of Moscow-headquartered United Industrial Corporation since 2004. The shipyard specializes in building cruisers, destroyers, minesweepers, patrol vessels and antisubmarine, research and passenger vessels, timber cargo carriers, trawlers, container ships and Ro-Ro vessels for the Russian Defense Ministry and foreign customers. Severnaya Verf posted for H1, 2012 net loss of RUB 763,073,000, up 2.5 times year-on-year. The company's revenues shrank by 32% to RUB 3,898,971,000.
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