The United Shipbuilding Corporation (USC) has acquired the Kingisepp Machine-Building Plant (KMZ), becoming its sole owner with 100% ownership.
The enterprise has become part of the state corporation, and the previous management will remain in full force. KMZ will become the base platform for the production of import-substituting high-power engines.
Such power plants are necessary for USC as part of its strategy to increase its own competencies in the construction of large-capacity transport vessels for the merchant fleet.
The documents have been signed, and there are many tasks ahead. At a time when Russia is in the stage of industrial revival and in an era of complex relations with the West, we must work together with the state more than ever before and implement the necessary projects for the development of Russia.
KMZ specialized in the production, repair, and supply of deck, gas turbine, and diesel equipment. The company was founded in 1862.
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