Ivanovo Stamp 2009 sales show disappointing year

Russia's biggest truck crane manufacturer Ivanovo Resident claims it has increased its market share in the country following a year of "serious tests" resulting from the economic downturn.

According to information from the group's chassis manufacturer and one of its two subsidiary truck crane producers Gazprom-crane, 2009 output reached 533 units in the first 11 months of 2011. By the end of the year that figure is forecast to reach 600. This amounts to about a 50% market share, says the company, compared to 45% in 2008.

"Without any doubt, our sales were reduced in comparison with those of 2008, nevertheless, we remain the leader of the market and we are constantly strengthening our position," says Alexander Khnykin, Ivanovo stamp director general.

In particular, 2009 was marked by a reduction in demand for construction and highway engineering equipment in Russia, says the company - an experience shared by many other countries.

"Because of this complex economic situation, many Russian enterprises reduced the production of crane trucks. The ability for end users to acquire construction technology also considerably reduced. As a result, they are not inclined to experiment and buy," said a spokesman.

"Furthermore, attractive prices remains one of the most important aspects in the economic crisis," added the company.