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breakingnews
Known as “Russia’s Bavaria” the Republic of Chuvashia is rich in natural resources. However, the region, famous for its agriculture and tractor production, has not managed to escape the global crisis crunch.
Chuvashia has great potential and its economy is based on energy and industry, focused mostly on manufacturing, chemical production and distribution of electric power.
However, after the region faced up with the economic crisis, even their omnipresent heavy industry was hurt.
Chuvashia’s “Promtractor” is the only manufacturer of heavy equipment in Russia, which can even compete with such companies as Caterpillar in the US and Komatsu in Japan.
“We are proud to say that we are at the same or comparable level of technology,” says Vladimir Zakharov, director of exports of “Promtractor”.
Previously, demand for these machines was high but now orders are down. This summer, more than 600 workers were laid off, and 400 more are now working part-time, but the company is still moving forward with research and development and plans to introduce one or two new models.
November, 2009
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