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Ural puts an end to some Internet rumors

Apparently, there have been some very recent Internet rumors that Ural would be shutting down as of March 1st. So today (Jan. 20th), the folks at Ural sent out a message that the rumor is untrue.

There was also a rumor that the shutdown was because of a multi-million dollar tax debt. Also untrue - Ural does have a tax debt, but it's certainly not a multi-million dollar one!

Here's the details direct from the people at Ural:

Now the official clarification, from the horse's mouth:


1. PK IMZ has tax debt. As of November 1, 2009 the amount was 10.5 mln rubles ($350K). This debt accumulated at the end of 2008-beginning of 2009, during the peak of the crisis when the factory stopped building bikes due to the drop in demand.


2. As of today, January 20, 2010 PK IMZ tax debt is 7.9 mln rubles ($280K). IMZ is negotiating with the regional government authorities on obtaining a payment plan for this remaining amount. The reason and purpose for negotiations is to keep the lined up reserve $$ for more useful projects including R&D rather than paying out the tax debt at once.


3. Today, January 20, the newly elected Governor of Sverdlovsk region is paying a visit to the factory and during the meeting with factory management they will be discussing this question. Another issue that will be discussed with the Governor - is providing the factory with a way to import foreign components under temporary importation terms. This would allow the factory not having to pay enormous import duties and taxes for goods that upon assembly of motorcycles immediately get exported. Unfortunately, current customs regulation is not manufacturer friendly (duty runs up to 15-20% on imported components, non-refundable) which forces IMZ management to look at and consider options of moving the assembly outside of Russia.


In conclusion - the factory is working and very busy, motorcycles are being built every day to catch up with the demand that's again running ahead of supply. If everything continues as well, this year we plan to get back to the production level of CY 2008.



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