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Rechitsa Hardware Plant to spend EUR5 million on retooling

National unitary enterprise Rechitsa Hardware Plant will spend EUR5 million on modernising its production facilities, director general of Belarusian Metallurgical Plant (BMZ brand) Nikolai Andrianov told today’s press conference. He said, a loan granted by a Swiss bank against BMZ security is supposed to be spent on the purpose. Now the Rechitsa Hardware Plant director is in Vienna to sign the contract with the bank. Nikolai Andrianov reminded, Rechitsa Hardware Plant has been part of Belarusian Metallurgical Plant corporation since February 2006. Now the enterprise works just fine and is one of the world’s largest nail traders (95 per cent of the make is exported). The company uses BMZ raw stock. Speaking about performance of other enterprises inside the BMZ, the director general mentioned the successful operation of Mogilev Metallurgical Plant, which had joined the corporation some time before. Now the enterprise’s production growth rate nears 140 per cent as against the corresponding period of last year. The enterprise is realising several projects in association with the BMZ. The corporation is taking measures to replenish floating assets of Mogilev Metallurgical Plant. According to Nikolai Andrianov, Orsha sewing machines plant has most problems. “But over the last four months the enterprise’s output quadrupled and for the first time over the last five years the enterprise started bring profits however little they are,” he stated. The BMZ helped with getting the workload for the enterprise’s facilities, gave occupation to the personnel, doubled salaries. In a year – a year and a half the enterprise should become profitable, underlined the director general. The enterprise used to produce 70,000-80,000 industrial sewing machines annually. However, over the last five years not a single one has been sold on the home market. The enterprise’s finished stock is huge, the enterprise has lost qualified personnel and operates in the red, explained the BMZ director general. Nikolai Andrianov added, assisting the enterprises inside the corporation, the BMZ “teaches them how to earn money”.