ОАО «Murom Radioworks» - JSC is the leading domestic manufacturer of loudspeaker telephone equipment for the Navy, commercial fleets, and for marine oil and gas platforms. Murom Radioworks was founded in 1946 to produce loudspeaker telephone systems. In Soviet times within the framework of the Gosplan it had a steady market outlet, working mainly on orders for the Navy and other military departments.
Starting situation
In 2001-2002 the plant was in crisis: tax debts amounted to 120 million rubles, arrears for heating - 8 million rubles, wage arrears - 6 months, the average wage rate was 1,369 rubles. The plant was not an attractive place for young professionals, and its core staff was composed of pensioners. Equipment and infrastructure deteriorated – capital improvement had not been done for over 10 years.
The actions of company management and «ROEL» SC
In 2003, the "ROEL" group of companies started the project of financial recovery and restructuring of the enterprise.
The number of management staff was cut in half. A proper design office for the development of new types of products was created. The enterprise was reoriented to work with civilian consumers, for these purposes a special department was created within the framework of the sales division, the training of personnel was conducted.
Managers of "ROEL" Group together with the management of the enterprise reduced area on which the primary production was located, 10-fold, which allowed for reductions in the cost of rent and heating by more than one and a half times. In the freed up areas was created the first in the Center of Financial Responsibility zone of regulated industrial development. On the territory previously occupied just by Murom Radioworks 11 new industrial enterprises were created, 6 of which manufacture products to support the work of Murom Radioworks, and 5 are non-core manufacturers. The number of workers was increased from 700 to 2,500, of which 900 - are women.
The volume of re-investments into the development of industrial site came to 60 million rubles.
Achieved results
The average growth rates of Murom Radioworks sales volumes came to 30% per annum, revenues from sales in 2001 increased 5-fold to 210 million rubles. The volume of output in 2001 rose 4-fold. The production load reached 80%. Currently the Murom Radioworks is a supplier of SGN equipment for the Navy, and in the field of equipment for the commercial fleet it occupies 50% of the market. Murom Radioworks has become a priority supplier of SGN for marine oil and gas platforms. In early 2007 the block of shares of the enterprise was sold to “Sistema” JSFC. The project yield was 1,250%
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