In 2007, production and sales volume of Zvezda OJSC will grow by 25% to RUR 1.250 billion, Pavel Plavnik, the company’s Director General reported according to RBC. “We have double production output in 4 years,” Plavnik tells. This year the company plans to invest about EUR 3 billion into equipment repair and purchase of computer software. According to Plavnik the company is working on the contract for supply of diesel generators to Algeria. In March 2007, Zvezda is to sign another contract with this country for supply and repair of military equipment.
Zvezda OJSC was founded in 1932. Today it is Russia’s leading manufacturer of light high-speed diesel engines for shipbuilding industry, railway transport and general industrial application, as well as diesel-generators and automated electric power plants for bulk, standby and emergency power supply. Control stock of the company (72%) is held by financial industrial group High-Speed Fleet (Moscow).