558th Aircraft Repair Plant Put on National Honours Board of 2014 Competition Winners

On 1 July, Belarusian President Alexander Lukashenko signed the decree No. 296 on Putting the Names of the 2014 Competition Winners on the National Honours Board.

A total of 62 candidates selected by the Government became the winners of the competition and were put on the National Honours Board, of which 51 candidates were recognised for achieving the best results in the field of socio-economic development and 11 candidates were recognised for resource saving activities.

In particular, the 558th Aircraft Repair Plant (the 558th ARZ) became a winner in Best Performance in the Field of Socio-Economic Development nomination among industrial companies subordinate to national administrative bodies.

To date, the 558th ARZ is the only company in Belarus and one of the few companies in the CIS offering a wide range of services in aircraft repair and upgrade.

The range of products and services manufactured and rendered by the 558th ARZ is constantly growing. In addition to repair of new types of aircraft, the company develops and produces systems for radio-frequency protection from high-precision radio-guided weapons, as well as tactical unmanned aircraft systems and sophisticated test-bench and calibration equipment. The company provides after-sales and maintenance service, sets up aircraft logistic support centres and trains the customer’s personnel to maintain and operate aircraft.

The key to the company’s successful financial and economic activity is not only an effective technical modernisation, but also an economic one. The result of this modernisation is the achievement of the indicators of socio-economic development in 2014.

To date, the 558th ARZ has revenue of $61 thousand per employee.

The production is increasing both in actual and comparable prices. An increase in production amounted to 123.5% in 2014, while return on sales was almost 13%.

The company is gradually increasing the volume of exported products and services. The rate of export growth reached 113.4%.

Positive results in the foreign trade provide positive financial status of the company. In 2014, the net income was 38 billion Belarusian rubles.

This allows the company to dynamically develop and upgrade the production, as well as stimulate leading experts. Capital investment growth in 2014 reached 232%.