In 2011, Krasny Oktyabr intends to increase its footwear production volume to 1.2 million pairs per year

December 7, Vitebsk / Diana Kurilo - BELTA /. Open joint-stock company "Krasny Oktyabr" intends to increase its shoe production volume in 2011 and bring it to 1.2 million pairs per year, said Nikolay Martynov, General Director of SOOO "Marko", to a BELTA correspondent. In 2008, "Marko" acquired 83.64% of the company's shares from the state with a nominal value of Br30 for more than Br180.7 million. At that time, "Krasny Oktyabr" produced 26 thousand pairs of shoes. The new owner managed to significantly increase production volume in two years. According to the results of 11 months of the current year, it reached 920 thousand pairs. At the same time, all products are sold both on the domestic market and exported to the Russian Federation. 288 jobs were created at "Krasny Oktyabr" this year. The total number of employees is about 1 thousand people. Next year, "Krasny Oktyabr" will begin developing new models of mid-price segment shoes. According to Nikolay Martynov, "Marko" fulfills all the conditions agreed upon when purchasing the shares. In particular, the company undertook to preserve shoe production and increase the volume of industrial production by 1.3 times by 2010 compared to the 2007 level. If these conditions are not met, "Marko" would have to reimburse the budget for the difference between the market value of the shares at the date of acquisition and their nominal value. In addition, "Marko" assumed "Krasny Oktyabr's" debts to the budget and its credit obligations to Belarussbank. These obligations will be repaid by 2014, as agreed upon during the sale, said Nikolay Martynov. Limited liability company "Marko" is one of the largest shoe manufacturers in Belarus. The company was founded in 1991. In addition to shoe production, "Marko" is engaged in the production of leather goods and shoe lasts for enterprises in the republic. The number of employees at all "Marko" facilities is over 4 thousand people. Three factories are involved in shoe production. It is planned that in 2011, the total volume of shoes will be about 4 million pairs. -0-