Belstankoinstrument becomes seventh holding company
Minsk Machine-Tool Plant MZOR has become the management company of a new holding company, comprising 16 Ministry of Industry manufacturers of machines and tools, with a total workforce of about ten thousand people
Belstankoinstrument is the seventh such holding company in the Ministry of Industry, with 16 such structures planned overall. Holding companies already created are Horizont, Automative Components, Amkodor, the Belarusian Optical & Mechanical Association, BelavtoMAZ, and the Belarusian Metallurgical Works. Holdings can enhance the competitiveness of their member enterprises by consolidating assets. This attracts foreign investments, including loans on more favourable terms. Relations between holding participants are eased, optimising management efficiency, while the use of a single brand abroad promotes recognition and reduces risk.
The creation of holding companies is part of a gradual transition from sectoral to functional property management, including share ownership. Meanwhile, the Institute of Management is being formed.