OREANDA-NEWS. The Russian Economic Council in Germany awarded Kirovsky Zavod with the Mayak Prize for innovative management and successful restructuring of its German subsidiary Monforts Werkzeugmaschinenbau GmbH.

The Mayak Prize was awarded to Albrecht Bochow, Member of the Management Board responsible for international business and development at Kirovsky Zavod, at the German-Russian Congress in Berlin. The Head of the Bureau for Economics and Trade at the Russian Embassy in Germany Andrey Zverev, a member of the German Parliament and the former German Minister of Economics Michael Glos, Russian Deputy Minister of Economics Leonid Osipov, Sberbank's Vice-President Sergey Borisov and Sberbank's Head in Germany Vladimir Matveev, took part in the award ceremony. It is the second time the Mayak Prize has been granted by the Russian Economic Council to outstanding Russian and German enterprises.

The criteria for the award in the "Innovative and Successful Management" nomination called for an innovative acquisition of a German traditional enterprise by a Russian investor and its successful guidance out of bankruptcy. Further, success in revival of the company's brand and allocation of new clients in Germany and abroad were also considered.

The German machine-building enterprise Monforts Werkzeugmaschinenbau GmbH was purchased by the Russian industrial holding Kirovsky Zavod in February 2013. Since then the enterprise succeeded in entering the Russian market and establishing a solid business network. "Our goals to enhance the Monforts brand in Germany and abroad and support its staff after the take-over have been achieved," Albrecht Bochow said.

Kirov Stankomash, another subsidiary of the Kirov Group, utilized its experience in retrofitting machine-building equipment and served as a platform for transferring German technology and know-how onto the Russian soil. As a result, most subsidiaries of the Kirov Group are now equipped with Monforts machine tools, hence, becoming more competitive on the market.

"We are honored to receive the Mayak award and feel encouraged in our endeavors as a strategic investor in Germany," Albrecht Bochow said. He added that the Kirov Group succeeded in establishing itself as a long-term investor in Germany not only with the Monforts staff but also with its clients, suppliers, partners, the regional administration and related inter-trade organizations.