OAO Baranovichi Cotton Production Amalgamation has plans to export its produce to Denmark, Estonia, Jordan, and the Czech Republic, BelTA has learnt from Bellegprom Concern.

These countries can become new sales markets for the enterprise. This year the company’s products were presented at specialized expos in China and Japan, which means that the enterprise is also eyeing the markets of the East. In the summer of 2013 OAO Baranovichi Cotton Production Amalgamation shipped a pilot batch of products (around 50,000 square meters of cotton cloth) to Brazil. “If everything turns out fine and our products sell well, the enterprise is ready to export up to 800,000 square meters of cloth per year to this country,” the concern said.

All in all, OAO Baranovichi Cotton Production Amalgamation expects to export around $6 million of products by the end of 2013 (up 30% as against 2012). The export makes up 11.5% of the total output of the enterprise. “We should take into consideration the fact that our products are import-substituting and important for our domestic market,” the concern emphasized. Today the Baranovichi cotton factory supplies its fabrics and finished goods to Russia, Moldova, Ukraine, Kazakhstan, Lithuania, etc.

The concern reminded that the enterprise is undergoing modernization which is planned to be finished by the end of 2014. The upgrade project of OAO Baranovichi Cotton Production Amalgamation is financed using the company’s own funds and a foreign credit line of 23.6 million Euros. The credit was granted in 2012-2013 on the security of the Government. The total cost of the project makes up Br281.7 billion in line with Resolution No.205 of 25 April 2012.

The administration of OAO Baranovichi Cotton Production Amalgamation informed that although the modernization has not been completed yet, the quality of the products has already improved. At the moment the total output makes up around $50 million. The enterprise expects to reach $80-90 million after the modernization is completed.

Bellegprom Concern informed that the enterprise is a profit-making company. In January-October 2013 its net profit made up Br25.3 billion (nearly three times as much as against the same period last year), and the sales profit reached Br49 billion.

The Baranovichi cotton factory was established in 1960. In December 2011 it was reorganized into an open joint stock venture. Today OAO Baranovichi Cotton Production Amalgamation is the largest manufacturer of textile products in Europe and the CIS countries. It offers a complete production cycle from cotton processing and yarn manufacturing to the production of ready-made clothes, bed clothes, and table clothing.