Ukraine: Nikolayev Shipyard Nominates New President

The Supervisory Board of Nikolayev Shipyard OCEAN has nominated Vasily V. Fedin the President of the Company.

The corresponding decision the Company Control body adopted on February 4. At the same time, the Supervisory Board has satisfied the application of Vladimir Mikhailyuk on vacation of the position of the Company’s President on voluntary dismissal.

The primary goal, raised by the NSY Ocean Supervisory Board before the new manager is to widen the order book for providing the company with a break-even activity and meeting the shipyard workers social commitments.

“The company as well as all the shipbuilding industry, is in a very tight corner. For the time being, the primary task is to bring orders to the shipyard, to prove the clients that we can create a competitive production. The increase of the scope of production is a timely shipbuilders’ salary and the resources for a long term development of OCEAN as well” , Vasily Fedin commented his nomination.

Vasily Fedin already headed NSY OCEAN from November 2011 to June 2012. He remains in position of Director General of PJSC Kherson Shipyard, which is part of a Smart Maritime Group Smart Holding sub-holding company.

[mappress]

Press Release, February 7, 2013