OREANDA-NEWS.   The Board of Metafrax confirmed the priorities for the company's development in 2014.

"Modernization and expansion of production" block included development of a program for up until 2020 as well as preparation for methanol plant renovation which will allow us to increase production by 10%.

Also in 2014 we are going to sign a contract for concentrated formalin plant construction, develop an agenda for urea and ammonia unit implementation, and deploy a micronized hexamine and pentaerythritol plant. Infrastructure modernization will include heating systems reconstruction and vehicle stock program.

This year we are also planning to improve functionality of our corporate information system Oracle E-Business Suite. Our subsidiary company Metafrax-Inform is going to deploy bookkeeping and fiscal accounting systems into it.

The Board sets high priority for increasing effectiveness of social units. In 2014 we are going to create and sign a new labour contract and also improve the corporate social unit infrastructure.

We would like to add that the highest priority for the company is still reaching the metrics set in the budget.