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Kharkiv Tractor Plant, which resumed its activity after a long downtime, completed 2017 with a profit of $48.8 million. In stark contrast, in 2016, it reported losses of $28.65 million.
The profits are due to the involvement of a new investor.
“After a forced downtime in 2016, production was restored as soon as possible. The first tractor came from the assembly line in February 2017, and by the end of the year, 794 units had been manufactured,” Kharkiv Tractor Plant stated.
The company’s tractors are sold in Ukraine, Moldova, Kazakhstan, Armenia, Bulgaria, Poland, New Zealand and Belarus. The company continues to search for new markets.
The plant’s plans for 2018 are the renewal of the equipment fleet and the modernization of its production facilities. The investor, Oleksandr Yaroslavskyi, has allocated more than $11.54 million for this.
“The volume of production varies from 80 to 150 tractors per month. The peak capacity of the plant makes it possible to produce up to 180 vehicles per month. The plant plans to release more than 800 tractors in 2018. At the moment, the company has already formed a portfolio of orders, indicating the sale of about 300 tractors in the domestic market, and more than 500 tractors in the foreign market,” the management of the plant said.
After Yaroslavskyi invested in the plant in 2016, manufacturing started again. Earlier, the plant was in a state of prolonged crisis. According to Forbes, Yaroslavskyi is one of Ukraine’s ten wealthiest people.
