20
December
2024
2024
Artyom Zdunov, Head of the Republic of Mordovia, and RM Rail CEO Maxim Tevs Meet to Review the Company's Operational Results
Several key matters were discussed regarding production volume increases, market expansion opportunities, and the development of critical supply chain networks.
Maxim Tevs, CEO of RM Rail, briefed the Head of Mordovia Artyom Zdunov on the company's performance this year and strategic business development priorities. The discussion covered key topics including production volume increases, market expansion opportunities, and the establishment of critical supply chain networks.
RM Rail continues to advance its strategy of developing customized rolling stock solutions tailored to specific client requirements. The engineering center's development output and certified model count this year substantially surpass last year's figures. Most importantly, these are predominantly science-intensive projects that implement innovative materials and technologies.
The certification of a complete line of temperature-controlled rail cars, including a thermally insulated rail car, refrigerated rail car, and refrigerated container, along with the unique eight-axle tank rail car "Nakhodka" and six-axle side-dump rail car for mining operations marked significant milestones for the entire railcar manufacturing industry. Each of these innovations represents a unique technical solution without parallel in the market.
Based on the 11-month data for 2024, freight car production increased by 19% compared to the same period last year, with an overall projected annual growth of 18% versus 2023 levels.
The hopper car for bulk cargo transport, tank rail car for petroleum products, and gondola for both bulk and unitized freight emerged as the most in-demand rolling stock types on the market. The company is expanding production of innovative models, particularly the tank rail car for concentrated nitric acid transport, which now features a proprietary innovative bogie with 25 tf axle load.
Foundry production has also increased this year, with projected annual output exceeding 2023 levels by 7% or 4,000 tons. Production of car castings will increase by 8%.
The Company's stable operations enable full implementation of employee social support and development programs while maintaining competitive compensation and excellent working conditions. Wages were raised twice during this year—once in February and again in May—with an average increase of 20%. The company's current average salary exceeds 93,000 rubles.
This year, a corporate housing program was launched for employees at the Company's key assets: Ruzkhimmash and VKM-Stal. The Company Loyalty Award has been established, offering monetary rewards to employees who have dedicated 3, 5, 10, 15, 20 years and beyond to the company. The corporate university significantly expanded its educational program offerings and launched two new training centers. Investment projects aimed at workplace safety and enhancing working conditions are currently underway.
Systematic efforts to enhance our employer brand remain a cornerstone of our company's development strategy, consistently earning high recognition from industry experts year after year. RM Rail has been recognized as one of Russia's top employers this year. This helps us effectively attract new talent while maintaining our existing workforce. In 2024, our workforce grew to over 8,500 employees.
Maxim Tevs, CEO of RM Rail,
"The company is wrapping up the year with strong performance. We have significantly increased our business development investments with support from the Industry Development Fund, Russian Ministry of Industry and Trade, and Mordovian Government. The investments will enable projects that will boost both production volume and create additional jobs in the coming year."
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RM Rail continues to advance its strategy of developing customized rolling stock solutions tailored to specific client requirements. The engineering center's development output and certified model count this year substantially surpass last year's figures. Most importantly, these are predominantly science-intensive projects that implement innovative materials and technologies.
The certification of a complete line of temperature-controlled rail cars, including a thermally insulated rail car, refrigerated rail car, and refrigerated container, along with the unique eight-axle tank rail car "Nakhodka" and six-axle side-dump rail car for mining operations marked significant milestones for the entire railcar manufacturing industry. Each of these innovations represents a unique technical solution without parallel in the market.
Based on the 11-month data for 2024, freight car production increased by 19% compared to the same period last year, with an overall projected annual growth of 18% versus 2023 levels.
The hopper car for bulk cargo transport, tank rail car for petroleum products, and gondola for both bulk and unitized freight emerged as the most in-demand rolling stock types on the market. The company is expanding production of innovative models, particularly the tank rail car for concentrated nitric acid transport, which now features a proprietary innovative bogie with 25 tf axle load.
Foundry production has also increased this year, with projected annual output exceeding 2023 levels by 7% or 4,000 tons. Production of car castings will increase by 8%.
The Company's stable operations enable full implementation of employee social support and development programs while maintaining competitive compensation and excellent working conditions. Wages were raised twice during this year—once in February and again in May—with an average increase of 20%. The company's current average salary exceeds 93,000 rubles.
This year, a corporate housing program was launched for employees at the Company's key assets: Ruzkhimmash and VKM-Stal. The Company Loyalty Award has been established, offering monetary rewards to employees who have dedicated 3, 5, 10, 15, 20 years and beyond to the company. The corporate university significantly expanded its educational program offerings and launched two new training centers. Investment projects aimed at workplace safety and enhancing working conditions are currently underway.
Systematic efforts to enhance our employer brand remain a cornerstone of our company's development strategy, consistently earning high recognition from industry experts year after year. RM Rail has been recognized as one of Russia's top employers this year. This helps us effectively attract new talent while maintaining our existing workforce. In 2024, our workforce grew to over 8,500 employees.
Maxim Tevs, CEO of RM Rail,
"The company is wrapping up the year with strong performance. We have significantly increased our business development investments with support from the Industry Development Fund, Russian Ministry of Industry and Trade, and Mordovian Government. The investments will enable projects that will boost both production volume and create additional jobs in the coming year."