KZSK: situation under control

Placed under bankruptcy proceedings, the Kazan Synthetic Rubber Plant (KZSK) is the only manufacturer in the Russian Federation in terms of polysulfide oligomers, special grades of rubbers, and a number of other products, including that for the supplies of goods under the government defence order.

In this context, the Ministry of Industry and Trade of Tatarstan, in close cooperation with its main creditor, VEB.RF State Development Corporation, the Ministry of Industry and Trade of the Russian Federation, and the trustee in bankruptcy, continues its efforts on finding ways to rescue the company.

With the framework of the agreement on attracting a strategic partner, the Industrial Technologies Holding (a consumer of KZSK products that has experience in manufacturing and supplying products for the needs of the defence sector), an agreement was signed on September 20 with one of the holding enterprises, providing for keeping the KZSK facilities in operation under bankruptcy administration.

The agreement will allow raising necessary resources, including financial ones, to retain qualified staff and to pay for operational expenses in order to continue the manufacture of a special range of products.

The Industrial Technologies Holding incorporates 19 enterprises. Its total revenues are more than RUB 7 billion; the number of employees is about 3000.