Business news

PM: Belarusian MTZ ‘in the black’ in Q1 2022

An archive photo

MINSK, 5 May (BelTA) – Minsk Tractor Works (MTZ trademark) stayed in the black in Q1 2022, Belarusian Prime Minister Roman Golovchenko told the media on 5 May, BelTA has learned.

“MTZ worked at a profit in the first quarter of 2022. The output growth rate was 108.7% compared to the same period last year. Exports were also on the rise. Stocks of finished products are decreasing,” said Roman Golovchenko.

According to him, by the end of the year the company plans to present a revised forecast with a surplus in almost all indicators, both manufacturing and finances. “The management of the enterprise sees positive results of the work. During today's meeting we will specify how justified these forecasts are. We will consider the fulfillment of tasks to increase exports, especially to the Russian market in the situation when many European manufacturers of autotractor equipment leave the market and also how the work on spare parts and components supply is organized. We will also touch upon modernization plans,” the prime minister said.

MTZ Director General Vitaly Vovk spoke about the tasks set by the prime minister before Minsk Tractor Works. “They included technical re-equipment, creation of new highly productive jobs, search for investments, and search for technological solutions. We will be actively involved in fulfilled these tasks, accelerate the development of areas that we already have, and also look for new options. All this is vital for the enterprises today,” said the director general.

Another topic for discussion at today’s meeting chaired by Roman Golovchenko was the Belarusian steel mill BMZ.

print version

make home page

add to bookmarks