Sevkabel

The close cooperation with Russia provided the newly established Siemens & Halske with consistent orders for 15 years and promoted the company's development.

[1] On 25 October 1879, German engineer Carl Siemens received permission to manufacture insulated wire and telegraph cables in a factory he had established in St.

On 1 August 1914, like all other German-owned enterprises, the factory was transferred to state ownership and began working directly with the Military Ministry and the Imperial Navy.

In addition, based on the available equipment and knowledge, centres of high-technology production developed at the relocation sites, from which new factories grew.

Based on his project, a high-voltage cable testing laboratory, the only one in the USSR at that time, was created on the site of a warehouse that had been burnt down during the bombing.

However, the structure based on borrowed capital could not face intense competition in the industry, was unable to repay the loans, and went into bankruptcy proceedings.

In 2014, the factory's largest creditor, Bank Saint Petersburg, invited an anti-crisis team led by Alexander Voznesensky to take measures for the stabilisation and development of the company.

To develop this direction, an agreement was signed in 2017 at the St. Petersburg International Economic Forum between Nikolay V. Taran,[8] who was in control of Rosskat group of companies at the time, and the management team of Sevkabel.

[9] For the effective management of the newly established legal entity, as well as further transfer of production, Nikolay Taran decided to involve a team that successfully implemented the strategy developed for Sevkabel in 2014 and ensured recovery from the crisis.

Despite the sustainable development, Sevkabel could not fulfill this obligation, and therefore Trust Bank stopped production and put the factory into bankruptcy proceedings.

[13] The Sevkabel team did not share Trust Bank's vision of closing the factory and scrapping the equipment, which affected the outcome of the bankruptcy proceedings.

As a result, another strategic direction of the 2015 plan, related to the relocation of production from St. Petersburg to a region with lower costs, was developed.

[14] As a result of the court-approved settlement agreement, the bankruptcy proceedings were terminated and the claims against the legal entity and the management team were dismissed.