Sevmash [SEP] industry
Sevmash
JSC PO Sevmash () is a shipbuilding company based in Severodvinsk, a port city on Russia's White Sea. The name Sevmash is an abbreviation of "Severnoye Mashinostroitelnoye Predpriyatie" (Северное Машиностроительное Предприятие), i.e. "Northern Machine-Building Enterprise". Sevmash is the largest singular shipbuilding enterprise in Russia and today the country's only nuclear submarine producer. In 2009, the company employed 26,951 people and its revenue from military production was $533.02 million.
Military production.
The shipyard's main specialization is
advertisement of the capabilities of Russian weapons capable of boosting Russia's military sales.
Economic significance.
Russia's defense industry employs 2.5 – 3 million people and accounts for 20% of all manufacturing jobs in Russia. Sevmash directly employs 27,000 people. The combined revenue of the industry's 20 largest companies in 2009 was $12.25 billion. Russian shipbuilders and naval missile manufacturers survived the difficult period of transition from a command to a market-driven economy, and kept skills needed for the development of advanced combat systems.