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Plant "Electrotyazhmash" began to purchase materials for bills

Ukraine / Business and Finance
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The plant paid over 34 million hryvnia by bill of exchange to suppliers of raw materials, having received the necessary materials for production.

Plant "Electrotyazhmash" began to purchase materials for bills

The plant "Electrotyazhmash" continues to implement the program of financial recovery with the assistance of the State Property Fund of Ukraine. One of its points was the introduction of payment for the supply of materials by promissory notes.

“Bill of exchange form of payment is a standard non-monetary form of payment that allows the plant to supply materials for production at the expense of an open credit line with Ukreximbank. The supplier receives a security for his goods - a bill of exchange that can be cashed in the specified bank. Payment is made for current deliveries. Thus, the plant can purchase materials without its own funds for payment, which is important if Electrotyazhmash has insufficient working capital, ”explains the Director for Economics and Finance Gennady Demidov.

Today the plant is already working on a bill of exchange with four suppliers of copper and ferrous metal: LLC Polytechprom, LLC Meta-Lux, LLC KZMO and PJSC Yuzhkabel. By agreement with the State Property Fund, this list will also include Metinvest-SMC LLC and UVK Refinery LLC.

Plant "Electrotyazhmash" specializes in the production of hydro and turbine generators for thermal power plants and nuclear power plants, electric motors for drives of rolling mills, equipment for mines, railway transport.

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