NOMOS-BANK increases credit limit of IPG “Hydraulic Machines and Systems” to 5 milliard Roubles
NOMOS-BANK has increased the credit limit of the Investment and Industrial Group “IPG “Hydraulic Machines and Systems” (IPG “GMS”) to 5 milliard Roubles. The new credit limit is valid for 3.5 years.
Within the established limit, IPG “GMS” can use revolving credit lines, credit lines with payment limits, banking guarantees, letters of credit, and other credit products. Loans and credit lines are secured with guarantees issued by industrial enterprises that are part of IPG “GMS”.
The credit limit increase was due to IPG “GMS” growing business scale and the Group’s good credit history with NOMOS-BANK.
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Mr. Valeriy Zinchenko
Executive Director, Head of Media Relations Division
The Investment and Industrial Group “IPG “Hydraulic Machines and Systems” (IPG “GMS”) is a leading manufacturer of pumping equipment and oil and gas equipment in Russia. The Group’s assets comprise 5 machine-building enterprises (ÎĀÎ “Livgidromash”, ÎĀÎ “Livnynasos”, ÎĀÎ Bavlenskiy Plant “Elektrodvigatel”, ÎĀÎ “Neftemash”, ÎĀÎ Sumskoy Plant “Nasosenergomash”) oil service enterprise “Nizhnevartovskremservice”, construction and assembly company ÎĀÎ “Tomskgazstroy”, engineering company OAO “Trest “Sibkomplektmontazhnaladka”, technical research centres and a joint sales company ZAO “Gidromasdhservice”. The Group’s sales volume in 2007 reached 12.9 milliard Roubles, net profit — 845 million Roubles.