PJSC NCSP joins the national project to improve workforce productivity

Press Release

PJSC NCSP joins the national project to improve workforce productivity

12.08.2020

NCSP Group (LSE: NCSP, MOEX: NMTP) hereby announces the signing of a cooperation agreement with the Federal Center of Competence with a view to implementing the national project Workforce Productivity and Employment Support, as well as federal and regional projects called Targeted Support of Improvement of Workforce Productivity at Business Enterprises.

PJSC NSCP employees will undergo a six-month training on lean production conducted by experts of Autonomous noncommercial organization «Federal center of competence in the field of labor productivity». The purpose of NCSP's participation in this project is to increase the productivity of its employees by finding losses and shaping a culture of continuous improvement.

The national project's key goal is to ensure growth of labor productivity at enterprises that work in basic non-primary sectors of the Russian economy by at least 5% each year by 2024 through the establishment of a culture of lean production. A total of over 1,600 businesses in 64 regions of the Russian Federation take part in the project. The Workforce Productivity and Employment Support national project is aimed at the continuous development of the priority program that has been carried out in Russia since 2017.

NCSP Group is the largest port operator in Russia by cargo turnover. Its controlling shareholder (62%) is PJSC Transneft.

NCSP Group is traded on Moscow Exchange (NMTP) and London Stock Exchange as global depositary receipts (NCSP). NCSP Group's cargo turnover in 2019 amounted to 142.5 million tons. The Group's consolidated revenue as per IFRS totaled USD 866.4 million in 2019. NCSP Group is comprised of PJSC Novorossiysk Commercial Sea Port, Primorsk Trade Port LLC, JSC Novorossiysk Ship Repair Yard, JSC NCSP Fleet, JSC NLE, IPP LLC, Baltic Stevedore Company LLC, and JSC SFP. PJSC NCSP and PJSC Transneft own NCS LLC on a parity basis.

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