POZIS and IDF signed ₽750M loan deal for civil production development

8 November 2018, Thursday

In Moscow, a loan agreement was signed between POZIS, a part of the Tecmash Concern (Rostec Corporation), and the Industrial Development Fund. The loan proceeds will be used to upgrade the enterprise’s facilities for increasing the production of household and medical refrigeration equipment.

The IDF’s loan to POZIS in the amount of RUB 750 million was granted within the Conversion programme framework. In August, the IDF Expert Council approved the enterprise’s project according to which the company plans to master the production of new refrigeration appliances of high energy efficiency classes with electronic control units, to be resulted in the annual output of up to 600,000 appliances by 2021.

The investment project was officially announced in September 2018 and is carried out within the development strategy for Rostec’s conventional weapons, ammunition, and special chemicals cluster, as well as the development strategy of POZIS until 2025.

POZIS has been producing refrigeration equipment since 1959, all the time combining the production of its core products and civilian goods. In recent years, refrigeration, professional, and medical equipment accounted for over 90% of the company's civilian goods.

Based on POZIS press service information

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