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Monday, January 27, 2020

MTZ incorporates 10 enterprises into holding company

Belarus' Minsk Tractor Works (MTZ) recently became a holding company with the incorporation of 10 different enterprises.

The MTZ Holding Company is now comprised of Minsk Tractor Works, along with parts plants in Bobruisk, Vitebsk and Minsk, as well as Minsk Gear Plant, the Narovlya and Khoiniki plants of hydro equipment and the Lepel mechanics repair and electro-mechanics plant, BelTA reports.

The company will coordinate and supervise all manufacturing, sales, purchase, financial and investment policies of the various enterprises.

Returns on sales in 2016 are projected to exceed $190 million as a result of reduced costs, delivery optimization, new technologies and product diversification, according to BelTA.