Polotsk-Steklovolokno OJSC increased its fixed capital investments by 12% to Br60 billion in 2009.

February 19, Minsk /Tamara Dovgalyuk - BELTA/. In 2009, OJSC "Polotsk-Steklovolokno" invested over Br60 billion in fixed assets. This was reported to BELTA correspondent by Elena Savitskaya, Deputy General Director for Economics of the enterprise. The growth rate at comparable prices compared to 2008 reached 112%. Financial resources were directed towards the construction of a new furnace and production modernization. The share of new products in the total industrial output last year was 10%, compared to 8.5% in 2008. In 2009, export supplies accounted for over 80% of the total sales volume. The geography of exports covers about 40 countries. Of these, over 40% of the manufactured products were shipped to the Russian Federation, and the rest to far abroad countries, including the USA, Germany, France, Poland, and Italy. The enterprise took all measures to maintain its positions in the export of electrical insulating products and construction glass materials and to preserve the growth rate at the 2008 level. This year, the export of finished products is planned to increase by 7.5%. At the end of last year, the ratio of finished goods inventory of "Polotsk-Steklovolokno" to the average monthly production volume decreased to 135%. "We not only managed to reduce finished goods inventory but also to maintain the number of employees, pay wages on time, and never delay payments to budget organizations throughout the year, despite the decrease in working capital," stated the Deputy General Director. The production volume last year at comparable prices amounted to over Br200 billion. The ratio of production volume in 2009 to 2008 was 81.4%. Profitability was 8.8%. "Overall, despite the global economic crisis, our enterprise operated profitably, although we, of course, expected higher results," noted Elena Savitskaya. The Polotsk "Steklovolokno" plant was founded in 1957. Today, it is an integrated enterprise that combines in a single complex the technological processes of raw material processing, glass melting, fiberglass production and its textile processing, finishing of glass fabrics, and manufacturing of fiberglass plastics. The enterprise specializes in the production of fiberglass and products made from it. The enterprise's products have a quality system certificate DIN EN ISO 9001:2000. The average number of employees is 3,000 people. -0-