The Concept of Corporate Assets Restructuring and its Implementation at OMZ Joint Stock Company

Abstract

Mr. Bendukidze is the CEO of United Heavy Machinery (OMZ) Joint Stock Company, also known is Uralmash-Izhora Group. OMZ,  the  largest  Russian  private  heavy  engineering  corporation,  is a result of a merger of leading machinery building manufacturers Uralmash, Izhorskye Zavody, Krasnoye Sormovo and some other production, R&D and engineering units. OMZ is a broadly diversified corporation. Main business areas include drilling equipment for oil production companies, equipment for nuclear power plants, mining equipment, civil and special vessels, and metallurgical production. The article is a modified version of a plenary presentation at the Forth Symposium «Strategic Planning and Enterprises’ Development» (Moscow, April 15–16, 2003). The Editors kept unchanged the author’s original style with its language and logic. The paper not only shows the author’s view on the problem of diversification and outsourcing, but also tells about the successful restructuring of OMZ JSC in accordance with the principle of the quest for core competences.