Polotsk-Steklovolokno establishes two joint ventures for the production of glass mat and fiberglass pipes

November 12, Vitebsk / Diana Kurilo - BELTA /. Open Joint Stock Company "Polotsk-Steкловолокно" plans to establish two joint ventures for the production of glass mats and fiberglass pipes. This was announced today at a meeting of the Vitebsk Regional Executive Committee by the company's General Director Nikolai Kochanevsky, a BELTA correspondent reports. Chinese businessmen have shown interest in the production of glass mats. "Polotsk-Steкловолокно" also intends to start producing fiberglass pipes, a new type of product for Belarus, with a foreign partner. At the same time, according to Nikolai Kochanevsky, investors are interested in supplying such products outside the republic. The development of new types of products is dictated by the decline in demand on the world market for traditional types for "Polotsk-Steкловолокно": glass fabrics and glass yarns for electronics and construction. As the General Director noted, for the first 9 months of the current year, the share of innovative products in the total production volume increased from 22% at the beginning of the year to 40%. "Polotsk-Steкловолокно" intends to master the production of new types of consumer goods in 2010, in particular, single-person boats and catamarans. The plans also include the resumption of production of fishing rods. As Nikolai Kochanevsky noted, about 85% of the enterprise's products are exported. The company's dependence on foreign buyers in the context of the economic crisis has affected production and sales volumes. Based on the results of the first half of the year, products worth Br45.7 billion were accumulated in warehouses, which amounted to 270% of the average monthly production volume. Based on the results of work in January-September, warehouse stocks decreased by Br19 billion. Products are sold in 43 countries. Revenue for the last three months is more than 100% compared to the same period last year. The production growth rate for the 9-month period was 83% compared to the same period last year. OJSC "Polotsk-Steкловолокно" specializes in the production of fiberglass and products made from it: electrical insulating and structural glass fabrics, construction and thermal insulation materials. The enterprise was founded in 1958. In 2003, the production association was transformed into OJSC. The state owns a controlling stake. More than 4,000 people work at the enterprise. -0-