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Putin signs decree on Unified Aircraft Construction Corporation

Written by: Staff

Moscow, Feb 22 (UNI) Russian President Vladimir Putin has signed a decree providing for creation of the Unified Aircraft Construction Corporation.

The decree, signed yesterday, instructed the government to establish the Corporation which will bring together all assets of the country's aircraft industry, including companies like Irkut, MiG, Sukhoi, Ilyushin and Tupolev. The share of state in the holding will tentatively reach 55-60 per cent.

''According to the proposals of the Russian government, the Russian Federation and the shareholders of Russian aircraft construction organisations should create OAO Unified Aircraft Construction Corporation (Moscow) and provide federally owned shares of joint stock companies as a contribution by the Russian Federation to its charter capital,'' the decree said.

''The share of the Russian Federation in the joint stock's charter capital should amount to no less than 70 per cent'' it added.

In accordance with the decree, federal state unitary enterprises Russian Aircraft Construction Corporation MIG and Kazan Aircraft Production Union are to be transformed into joint stock companies with cent per cent of their shares owned by the state.

The shares will later form the state's contribution to OAO Unified Aircraft Corporation's charter capital, the Kremlin press service reported.


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