OREANDA-NEWS. January 10, 2008. Concern Energomera JSC, Stavropol, Russia, the leading manufacturer of electrotechnical products and electronic materials, is going to invest $36 000 000 in the production development in 2008, Vladimir Polyakov, the President of the Concern reported. He also added that the volume of investments in the development of Concern enterprises had comprised $29, 000, 000 in 2007. Reconstruction of the main production facilities of Nevinnomyssk Measuring Equipment Factory, first stage of technological retooling of Pyatigorskselmash factory were completed within the framework of the investment program. Production facilities of synthetic corundum factory Monocrystal increased by 40%. Building of electronic meter assembly factory in the Republic of Belarus (Fanipol Measuring Equipment Factory) was completed.

Implementation of investment projects in 2008 will let the Company to increase the volume of its main production significantly: electricity meters and other electrotechnical devices – by 20%; synthetic sapphire and other electrotechnical materials – by 35%; poultry industry equipment – two times.

According to the results of 2007, the Concern had produced 2, 500, 000 electricity meters, 41, 263 tonnes of sapphire monocrystals and had grown 106, 000 tones of grain, Vladimir Polyakov said.

Total sales volume comprised 3 835 million rubles (excluding VAT) in 2007, that exceeds last year level by 27% (3 018 million rubles in 2006). According to preliminary data, Concern’s net profit increased by 112% up to 707 million rubles in 2007 (2006 – 302 million rubles). According to the results of 2007, the Concern will pay taxes in the amount of 535 million rubles (2006 – 455 million rubles).