MOSCOW. July 12 (Interfax-AVN) - The Severnaya Verf shipyard and the Rosoboronexport state-owned arms trader have signed a general agreement on cooperation in promoting the shipyard's products on the global market, a source in the defense industry told Interfax-Military News Agency on Tuesday.
"The document was signed by Rosoboronexport Director General Sergei Chemezov and Severnaya Verf Director General Alexander Buzakov," the source said.
In the framework of the agreement, Rosoboronexport undertook to search for potential foreign customers of the shipyard's military and civilian products. "The document assigns the status of partnership to the relations between the two companies," the source noted.
He recalled that Rosoboronexport Deputy Director General Vladimir Pakhomov was elected to the Severnaya Verf board of directors at the latest meeting of the shipyard's shareholders.
Severnaya Verf is one of Russia's biggest shipyards. It was established in 1912. The total volume of orders Severnaya Verf is implementing at the present time exceeds $2 billion, the major orders being those for the construction of Project 956EM destroyers for the Chinese Navy and Project 20380 corvettes for the Russian Navy. The shipyard's main shareholders are the Unified Industrial Corporation (53.48 percent) and Russian Federal Property Fund (20.96 percent).