OREANDA-NEWS. April 18, 2012. Basic Element, one of Russia’s leading diversified business groups, is delighted to announce the appointment of Pavel Ovchinnikov as CEO of the Russian Transport Machinery Building Corporation. Prior to his appointment, Mr. Ovchinnikov served as Commercial Director at UC RUSAL, reported the press-centre of Basic Element.  

One of Mr Ovchinnikov’s key responsibilities will be the creation and development of a large holding company that integrates JSC Russian Machines’ key rail transport manufacturing assets. The new holding company aims to become a top-three market player by its value and market share. The company is set to produce highly competitive products including wagons, containers and railway platforms, as well as to provide transport services. In addition, one of its main priorities will be to develop an in-house engineering center, which will allow it to create and bring to the market innovative products.

The new holding company will manage enterprises in the Republic of Mordovia (JSC Ruzkhimmash, JSC VKM-Steel, LLC VKM-Service, and others), and also JSC Abakanvagonmash, LLC RKTM-trans and CJSC VKM-Engineering in other Russian regions. The integration of these businesses will help to strengthen the company’s position as one of the leading Russian manufacturers of railway equipment and wagons and as a premier supplier of engineering, leasing, and logistics services.

Siegfried Wolf, Chairman of JSC Russian Machines, welcoming the appointment of Pavel Ovchinnikov commented: “Railway Engineering is a strategically important sector for Basic Element. We believe in the potential of this sector and we plan to develop the Russian Transport Machinery Building Corporation as a progressive transport business. Our strategy involves increasing production capacities, developing innovative products, offering more attractive transport solutions for customers and implementing further programmes that will ensure competitive advantage and leadership in the industry.”