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Power Machines asks government for support in view of US sanctions

April 12, 2018, 16:00 UTC+3

Overseas projects have recently become much more complicated for the company

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ST. PETERSBURG, April 12. /TASS/. Power Machines asks the government for help in accessing the international market and to provide preferences on the domestic market, Board Chairman of the Russian company Alexei Mordashov said on Thursday.

"We are performing a lot of various projects in different countries of the world. Certainly, we would like to ask for a certain support of Power Machines. This is support in access to the market, the Russian market and the international market," Mordashov said. Power Machines were earlier blacklisted by the US authorities, he added.

Overseas projects have recently become much more complicated for the company, Mordashov said. "I hope the access to the international market has not been closed for us but it has become much more challenging. We would like to ask for the government’s help in terms of providing government guarantees to us, when our customers so require," the top manager noted.

Power Machines finds it increasingly challenging to raise financing, Mordashov said. The company would like to have support of the Russian Export Center and the Central Bank in this regard, he added.

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