October 2nd, a press-tour was held at the Moscow Shipyard. The journalists had an opportunity to visit all the workshops of the shipyard, to see all the stages of the megayacht construction and also the already built and launched megayacht Timmerman 45.

At the press-conference within the framework of the press-tour spoke such leaders of the International Consortium of the Timmerman Shipyard and Moscow Shipyard as Dmitrii Mironenkov, President of the International Consortium Timmerman Yachts, Evgenii Mitkin, CEO of the Moscow Shipyard and Vladimir Schelin, commercial manager of Timmerman Yachts.

Dmitrii Mironenkov, President of the International Consortium Timmerman Yachts opened the press-conference. He pointed out the main idea of the Consortium: in 2005 the International Consortium Timmerman Yachts was established on the base of the Moscow Shipyard with the purpose of shift from building the yachts of the class “river-sea” to the yachts with unlimited navigation area. The leading Dutch naval architects and designers were involved in the project. At the moment 12 steel displacement motor yachts, 80% of which are for the foreign clients, are being built at Timmerman Yachts. According to Dmitrii Mironenkov it’s clear evidence that “one can create in Russia a competitive product of high quality with high value added” and thus provide foreign capital inflow.

At the moment the aggregate value of the project portfolio is over 4 billion roubles. Profit rate of the yacht production is higher than in other branches, “10-15% is a good financial result” – Dmitrii Mironenkov thinks. Project portfolio is set to 2009, now projects for 2010 are being planned.

The company is planning to organize hull production outside Moscow Shipyard in the historical centers of the Soviet shipbuilding – St. Petrsburg, Nizhni Novgorod, Astrakhan and Rybinsk.

Hull production at the shipyards with which cooperational relations will be established will significantly decrease production costs of the Consortium and will allow to enlarge the project portfolio.

After Dmitrii Mironenkov spoke Evgenii Mitkin, CEO of the Moscow Shipyard. According to him the potential of the Moscow Shipyard is quite high as the shipyard has a complete production plant and also eminently qualified staff which are the key demands in the yacht production of this class. Evgenii Mitkin says that “month’s probation periods are being organized for the workers on the leading world shipyards” and additional investment “is used for the development of the shipyard not for its maintenance”.

Vladimir Schelin, financial manager of Timmerman Yachts, closed the press-conference. He paid special attention to the yachts built by the Consortium and also proved the appropriateness of the initially chosen conception of building steel displacement megayachts. “Demand for steel megayachts can be explained by their high durability” which is often the main factor for clients.

Summing it up, the speakers pointed out that favorable business climate has been established. It contributes to the market development and by 2009 will allow the company to achieve self-repayment (pay-back period at this market is over 5 years).