United Kingdom - Russia
Closed Nuclear Cities Partnership

Ozersk
Water-dispersed paints
Title

Expansion of the production of water-dispersed paintwork materials.
Objectives

- Refurbishment of the building to install new equipment.

- Purchase of manufacturing, analytic and storage equipment.

- Creation of 24 new jobs including 14 jobs for former Mayak Chemical Kombinat employees.

- Staff training.

- Manufacture of a wide range of high-quality products.

- Promotion in the regional market.
Summary

The project's objective was to help a successfully developing company to finance its further growth. FinInterCom manufactures water-dispersion paint at a volume of 1200 tons per year for a 2004 planned turnover of $1 m. Turnover had increased 100% year on year as compared to 2003 (600 tons for $ 500 000 turnover). Prior to the project, FinInterCom employed 42 people and planned expansion would add 25 more jobs, mainly for high-skilled former Mayak employees with chemicals knowledge.

Final audit proved that the beneficiary had fulfilled its obligations in full and had overfulfilled its obligations as concerns job creation. 24 jobs / including 17 for ex-workers of Mayak had been created vs 24 /14 planned initially).

The project is considered to have been completed successfully.

The company developed a new proposal for the CNCP consideration for which market research and business planning was carried out but the proposal did not proceed to Full Projects.

Cost

Total cost of the project is £ 182,100. The DECC's contribution is £135,725.
Duration

March 2005 - December 2006.
Beneficiary

"FinInterCom" Ltd., Ozersk