SCM Reported on Its Readiness to Work Under Global Crisis Conditions
OREANDA-NEWS. October 27, 2008. Efficient vertically integrated chains in power and metal businesses of SCM built over the past two years shield the Group from unfavourable price factors in the external markets and other effects of the global financial crisis. SCM's CEO Oleg Popov said that in an interview, reported the press-centre of SCM Group.
Enterprises of SCM Group, just like all international businesses, are experiencing a certain deficit in funding because of the global economic crisis. But the Group is ready to face it being backed by the results of reconstructions and implementation of modern management systems, as well as taking advantage of the available funds effectively. The Group companies continue to operate and pay salaries.
As before, the Group successfully borrows in the global capital markets, and international financial institutions are ready to loan funds to the Group. This confirms stability of SCM's business.
Mr Popov also underlined that crisis has its ends and a downturn is always followed by an upsurge. "Today we should be thinking not only and not just about going through the crisis, but rather about the opportunities that will open afterwards. SCM is strong enough to endure the crisis and become stronger", emphasized Oleg Popov.
In addition, the CEO said that SCM didn't wait for individual help from the government, neither during an economy growth, nor in the crisis. He stated that SCM didn't need it.
For full version of the interview of SCM's CEO to Interfax agency, please visit corporate website of SCM.