02.07.10. Novikombank strengthens its cooperation with Tulamashzavod
At the first International Forum ‘Engineering Technologies 2010’, Novikombank, a strategic partner of the Forum, signed a cooperation agreement with Tulamashzavod Joint-Stock Company, a leader in the Russian engineering industry.
The agreement provides for an increased availability of the Bank's services offered to Tulamashzavod, such as settlements including foreign trade operations. The Bank will also provide additional financing of the company’s day-to-day operations, high-priority projects and development programmes.
The Bank’s cooperation with Tulamashzavod JSC will be developing along the lines of investment banking, asset management and consulting, as well as retail services to the company’s management and employees.
Novikombank President Ilya Gubin said: “We have been successfully cooperating with Tulamashzavod for years, and our cooperation continues to get stronger and stronger every year. Therefore, this agreement serves two goals: it further strengthens our partnership and makes an important milestone in our efforts towards expanded cooperation.”
For information purposes:
Novikombank was established in 1993. Today, it is a solid, rapidly growing financial institution offering a comprehensive range of banking services to its customers. The provision of finance to Russian industrial companies, including heavy-machinery, the automotive industry and technology-intensive manufacturers is among the Bank’s priorities. As of 1 April 2010, the Bank’s capital amounts to 5,9 billion roubles, with net assets of 42 billion roubles.
Tulamashzavod Joint-Stock Company is a major player in the Russian defence industry and a leading arms manufacturer for the Russian Army and Navy. Tulamashzavod JSC’s traditional product range includes artillery weapons for various vessels: 30-mm automatic gun mounts AK-306 and AK-630M, naval gun mount ‘Duet’, a unique air-defence missile/gun system ‘Kashtan’, air-defence missile/gun system ‘Pantsir–S1’, and an anti-tank guided weapon ‘Arkan'.
