Saratov Works of Reservoir Metal Structures has been declared insolvent.
During the supervisory procedure, which has lasted since the beginning of the year, the insolvency officer has analyzed the company financial activity and decided that it will be impossible to restore solvency, as debts reach 1.26 billion rubles.
The works was created in 1947 as the repair enterprise for gas industry. Later it started specializing in the manufacture of various reservoirs and tanks for oil and water.
In 2016 the company received 485.7 million rubles of losses. (Ukrainian metal)