Mogilevdrev OJSC is planning to invest BYR 21 billion in the upgrading of production facilities in the coming two years, Director General Alexander Bondarev told Interfax-West.
This year's investment will make BYR 7.9 billion, the source specified.
According to the company's anti-crisis manager Alexander Bondarev, over the past five years the company considerably improved its economic performance. Over the period in question the company's output grew 2.3-fold, consumer goods output rose by 60%. Exports expanded by 52%, and the efficiency of labor grew 3.4-fold.
Mogilevdrev was formed in 1973 to produce furniture joiner's goods, and timber. It employs 1,000 persons.
Apart from kitchen furniture, beds, shelves, tables, lockers, Mogilevdrev company produces joiner's instrument (around 100 kinds of goods in total). Furniture accounts for 50% of the company's output.
In January-September 2008 Mogilevdrev OJSC made BYR 14.1 billion worth of goods, or 10.6% up on the year. Consumer goods output rose by 10% (BYR 8.2 billion). 30% of the output was exported.