10 February 2014

Another window to Europe

Open JSC "Pella" continues to increase its production capacity. Following the construction of a new shipbuilding site, the launching of which is scheduled for the 3rd quarter of 2014, Open JSC "Pella" realized its longstanding plans to increase its production in Europe.

On February 10, 2014 the Share Purchase Agreement of German shipyard «Sietas Werft» was signed. German shipyard «Sietas Werft» is located in Hamburg. It is the oldest shipyard in Germany, in March 2014 it will celebrate 379 years since its founding. The Shipyard has had some difficulties since 2011, and the number of employees was reduced to 100. Open JSC "Leningrad shipyard "Pella" plans to invest in the development of the shipyard about 15 million Euros, returning the number of employees up to 400 people by 2016, as well as assign the new brand «Pella Sietas GmbH».

Open JSC "Pella" has traditionally had a solid position in the shipbuilding market in Russia. Shipyard specializes in the construction of tugboats and other technical fleet vessels, pilot boats. Every year Open JSC "Pella" is expanding its range of production. The share of innovative products is not less than 60-70 % per year. All new products of "Pella" is a result of many years’ experience, engineering and technical creativity of specialists of the shipyard, their collaboration with leading design companies from other countries. Recall that the Open JSC "Pella" is already well known in the world. Shipyard has delivered the tugboats in Italy, Norway and the Baltic countries.

Over the last 5 year the stock of orders of the Shipyard “Pella” was increased in 3 times. Now even with the capacity of the new shipbuilding site the stock of orders of the Open JSC “Pella” has formed until 2016.

It is expected to expand the production line in the new production capacities of the shipyard “Pella Sietas GmbH” using the technological possibilities of the new platform, namely to organize the design and construction of large displacement and tonnage vessels. New shipyard has all the technical capability to carry out these plans: the necessary equipment and skilled technical staff and extensive experience of construction of large vessels. New capacity will further strengthen the leadership position of "Pella" not only in Russia but also in the global market.

We are grateful to the German side for such a unique opportunity to our Company.

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