The former Volvo plant in Kaluga ended 2023 with a loss of 2.9 billion rubles.
Stockov Machinery JSC (formerly Volvo Vostok JSC) sharply reduced its activities in 2023, receiving revenue of 0.4 billion rubles against 23.8 billion a year earlier, in 2021 the company earned 68.8 billion rubles. Such data is contained in the company's published financial statements.
In 2023, the company ceased all trading operations, focusing on customer service and warranty repair services and rental of cars and premises.
Last year, almost all fixed assets were removed from the balance sheet – buildings worth 4.8 billion rubles, land worth 216 million rubles, tools and equipment. At the same time, in the report, proceeds from the sale of fixed assets are indicated in the amount of 1.1 billion rubles. In 2023, staff reductions continued, and at the end of the year the company employed 22 people, compared to 121 in 2022 and 612 in 2021.
After Volvo left Russia, Volvo Vostok JSC(N) was bought out by Aston Group LLC, controlled by Igor Kim. Immediately after the sale in September 2023, the Ministry of Industry and Trade informed Interfax that, together with the new owner, a domestic partner had been identified to further develop production at the concern's Kaluga site and restart it as soon as possible.
Volvo manufactures commercial vehicles, trucks, buses, engines and various equipment. The parent company of the concern is AB Volvo.
