United Shipbuilding Corporation - Company Strategy & Performance Analysis
The United Shipbuilding Corporation (USC) specializes in military shipbuilding, as well as in the building of modern high-tech civilian vessels such as the ice-class. The company aims to gain expertise in building high cost ships such as cruise vessels. USC is one of the few suppliers in the world with expertise in the entire range of naval hardware, from fast patrol and multifunctional craft to nuclear-powered submarines and aircraft-carrying ships.
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A diversified product and services portfolio enables the company to gain substantial revenue:
The United Shipbuilding Corporation maintains a strong product and services portfolio that allows it to cater to a wide customer base. The company offers several products and services under its military segments, including submarines, warships, support vessels and training sets, minesweepers, land ships and boats, and patrol ships and boats. The company also provides aftermarket services to its customers. For instance, in 2016, Zvezdochka, a part of the United Shipbuilding Corporation, completed the repair and modernization of a large nuclear submarine named Moscow, as a part of the aftermarket services provided by the company.
The company aims to meet the demands of domestic civilian customers:
USC is focusing on enhancing its domestic civilian customer base. It aims to meet the demands of civilian customers, especially in terms of construction and marine engineering services. The company plans to meet 100% of the needs of its civilian customers in terms of engineering services, for which it entered into an agreement with the government of the Chuvash Republic to invest in Chuvashia. Meeting the demands of civilian customers will lead to high satisfaction levels, thereby increasing the company’s sales volumes. This also helps to increase the company’s customer base.
Contracts and agreements to accelerate the company’s business activities:
In 2016-2017, the company, along with its subsidiaries, signed several agreements relating to shipbuilding, ship design, repair, and vessel building. These contracts will pave the way for the company to boost its financial performance in the future. For instance, United Shipbuilding Corporation’s - Zvezdochka ship building center received a contract from ABB Oy Marine (Finland) to supply propellers for its LNG Yamal project, under construction in South Korea.