Kryukov Railcar Building Works Almost Quadruples Railcar Production In 2016

The Kryukov Railcar Building Works (Kremenchug, Poltava region) increased production of freight cars 3.8-fold to 1,567 in 2016, compared with 410 in 2015. The Kryukov Railcar Building Works’ supervisory board chairman Volodymyr Prykhodko announced this in an interview to the LIGABiznesInform publication.

"We produced 1,576 cars in 2016. We will achieve about the same figure this year if Ukrzaliznytsia does not buy anything. We survive only on exports and the small private demand in Ukraine," Prykhodko said.

He predicted that the Kryukov Railcar Building Works would break even this year.

"Regarding financial results, we are planning to reach zero. We made a loss of about UAH 100 million last year. This figure was three times higher in 2015. We have used all our working capital and eaten all the remainder of our profits. We are only holding on to the hope of prospective work on the Ukrainian market," he said.

As reported, the Kryukov Railcar Building Works delivered 350 new gondola cars to the Ukrainian Railways public joint-stock company (Ukrzaliznytsia) in 2016.