VTB Bank has extended two credit lines totalling RUB 550 million to finance Yalamov Ural Optical & Mechanical Plant’s day-to-day operations. The aggregate loan limit for the company in the bank stands at RUB 1.6 billion. VTB and Yalamov Ural Optical & Mechanical Plant have been developing cooperation since 2008.
"VTB has extensive possibilities for financing and providing comprehensive banking services to clients from Russia’s military-industrial sector and is ready to provide the plant with a whole range of banking products it needs to support future growth," said Valery Lukyanenko of VTB Bank’s Management Board.
Yalamov Ural Optical & Mechanical Plant OJSC is one Russia’s leading developers and producers of military and non-military optical electronic devices. The Ural Optical & Mechanical Plant currently produces high-tech optoelectronics for the air force, navy and ground troops. The plant’s products are used on board aeroplanes and helicopters, including all modifications to flagship units as part of Russia’s military and technical cooperation with foreign states in aircraft engineering. The plant develops several major segments of non-military engineering: medical equipment (including developmental care and treatment of newborn babies), geodetic devices (electronic total stations, transit theodolites, levelling instruments and light rangefinders) and lighting equipment (traffic lights, outdoor lighting).