OREANDA-NEWS. July 30, 2008. In 2008 the Production Association Gomselmash will invest around USD 47 million in technological upgrade. In H1 2008 some USD 19 million was assigned for this purpose, director general of the company Valery Zhmajlik told a press conference on July 30.

According to him, every year the company puts no less than USD 20 million into production development and technological upgrade. “This year the investment will be much higher, up to USD 47 million,” Valery Zhmajlik said.

The company uses investment to implement large innovation projects, the director general said. Thus the company is currently refitting the foundry production with flexible energy-saving iron and steel casting plants, reconstructing the paint spray processing facility, increasing the capacity of laser cutting unit and commissioning a new assemblage line. In addition, the company is set to start the mass production of highly-effective grain harvesters Palesse GS14.

Valery Zhmajlik noted that for the past five years Gomselmash has tripled the output and hopes to do the same in the next few years. “We plan to achieve the target through continuous technological upgrade. To achieve the target we need to put another USD 100 million,” Valery Zhmajlik said.