The Ukrayina Corporation, hosiery maker in Zhytomyr, has been carrying out low cost restructuring. Firm General Director Boris Kuzminsky has informed us about the results achieved under the project so far.
According to him the assistance by the Ukrainian Center for the Restructuring of Enterprises and Private Sector Development and by the specialists of the international consulting firm of Taylor Nelson SOFRES Consulting along with financial support from the World Bank have enabled Ukrayina to double its output to 30 million pairs of hosiery a year. Consequently, profits have almost doubled as well to UAH 2 million for the first half of this year, equaling total 1998 profits.
Project Manager Pierre Lamblin said Ukrayina managers intend to continue cooperating with Taylor Nelson SOFRES Consulting, which will enable the Ukrainian enterprise to strengthen its domestic market position and to increase exports that currently account for 27% of its output, and reduce production costs.
In addition to Ukrayina, four more Ukrainian enterprises — Korosten’s Khimmash (chemical industry plant), Kiev’s Brewery No. 1, Kherson’ Electric Machine Building Plant, and Lviv’s Tool Plant — participate in this project, for which the World Bank has allocated $2 million. The project is scheduled to be completed by June 2000, and all expect it to be done successfully, reports The Day’s Valery KOSTIUKEVYCH .






