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Opinions & Interviews

8 Sep 2017

Belarusian automaker BelAZ expected to increase its global market share

Belarusian automaker BelAZ expected to increase its global market share

ZHODINO, 8 September (BelTA) – The Belarusian automobile engineering company BelAZ has good prospects of increasing its share on the global market. Prime Minister of Belarus Andrei Kobyakov made the statement during the tour of the company on 8 September, BelTA has learned.

The prime minister stressed: “Good future lies ahead of BelAZ. The company is on the up. The company dealt with the falling demand for merchandise very confidently. Its manufacturing processes have been seriously remodeled. New products, which enjoy a strong demand, have been developed. Missing models have been added to the product range. Now the company is demonstrating a good growth pace both in monetary terms and physical terms. The company has secured a 30% share of the global market. It is the world’s second largest manufacturer between Americans and the Japanese. There are good prospects that the company will keep up the pace.”

Andrei Kobyakov remarked that global markets are always subject to certain demand cycles. “BelAZ knows perfectly well that these cycles are repeated. The company successfully overcame the unfavorable part of this cycle 2-3 years ago. Now the market is on the rise, the demand is on the rise, and the company’s market share is growing,” explained the prime minister.

The head of government also pointed out that BelAZ continues modernization. “I like the fact that in addition to what has been done already the company’s management sketches out clear plans on consequent modernization. They have a good future ahead of them at least for the next five years. BelAZ looks into the future with confidence,” he stated.

Apart from that, Andrei Kobyakov also mentioned BelAZ’s social indicators. “The number of personnel is on the rise. Over 600 new people have been hired. The average salary stands at Br1,400. It means that the company has a colossal potential. I am not talking only about the main manufacturing site [in Zhodino]. There are serious plans to develop manufacturing facilities in Mogilev and Pinsk, which make part of the holding company,” he said.

Headquartered in Zhodino, Minsk Oblast, the automobile engineering company BelAZ is a highly effective industrial enterprise that makes mining vehicles and specialized vehicles using innovative technologies. Since its foundation the company has made over 500 various modifications of haul trucks and special-purpose vehicles, assembling some 146,000 vehicles and selling them to 72 countries across the globe.

In January-August 2017 BelAZ’s output grew by 87.6% in comparison with the same period of last year. Merchandise export was virtually doubled (98.1% up). The ratio of the stock in storage to the average monthly output dropped by 143.2 percentage points since early 2017. In January-August BelAZ products were shipped to 25 countries.

 

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