JSC Dneprovagonmash (Kamianske, Dnipropetrovsk region), a major Ukrainian rolling stock manufacturer controlled by the TAS financial and industrial group, intends to broaden the scope of its operations by producing machinery for the agricultural, forestry, and mining industries, as well as vehicle bodies, trailers, and semi-trailers.
This issue is included on the agenda of an extraordinary meeting of Dneprovagonmash’s shareholders scheduled for October 1, which was published in the information disclosure system of the National Securities and Stock Market Commission.
These additional operations also include manufacture of containers, lifting and cargo unloading equipment, metal doors and windows, reservoirs, steam boilers, steel barrels, as well as machinery and equipment for production of food and beverages, tobacco processing, and office and kitchen furniture.
The shareholders of the company also plan to approve changes to the company’s charter and the Regulations on General Meetings of Shareholders. In addition, they plan to approve the conclusion of several significant deals, particularly the deal with Interpipe Ukraine LLC for supply of wheels worth UAH 400 million, the deal with Metinvest SMC for supply of rolled metal worth 400 million, and the deal with LLC Azovmash for supply of tanks (worth UAH 350 million) and steel casting (UAH 350 million).
According to the state register, in addition to its core operation (production of railway locomotives and rolling stock), JSC Dneprovagonmash’s operations currently include production of machinery and equipment for metallurgy and electrical installation work; operations in the field of architecture and construction of residential and non-residential premises; production of radiators and central heating boilers; production of sports goods; wholesaling of grain, unprocessed tobacco, seeds, and animal feed.
As the CFTS reported previously, Dneprovagonmash reported a net loss of UAH 28 million for the first quarter of 2020. It also reported operating losses of UAH 29.45 million for the period of January-March this year.