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SEVASTOPOL, August 24. /TASS/. Russian company Popilov has set up serial production of yachts in Sevastopol, chief executive of the company Mikhail Titov said on Wednesday.
"Popilov came to Sevastopol in 2012. One 20-meter yacht has been recently built at the shipyard and two more are under construction; these yachts are decent competitors to European counterparts," Titov said.
The shipyard represents the full production cycle from design to construction of a ready vessel, the chief executed said. A painting shop and a slip for yachts lifting and lowering will be built in the nearest perspective, he added.
Sanctions against Russia affect operations of the company, particularly in respect of purchasing yacht equipment that has no Russian counterparts, Titov said. Nevertheless, the company managed to establish cooperation with 17 European makers of yacht equipment and components. The company is concurrently taking part in the import substitution program. "We are a Russian company, participate in import substitution and are interested in it," he added.