MOSCOW. Oct 9 (Interfax-AVN) - An engine building holding, which will be formed within the Oboronprom structure, is bound to unite research and production facilities, says a report of the Russian Industry and Trade Ministry received by Interfax-AVN on Thursday.
Prime Minister Vladimir Putin has signed a resolution in fulfillment of presidential ordinance No 497 of April 16, 2008, on the establishment of a holding of gas turbine engine producers.
"The Industry and Trade Ministry and the Economic Development Ministry shall transfer within ten days to Oboronprom charter capital the federal stock of the Perm and Samara engine building enterprises, as well as of the Saturn Science and Production Enterprise and the Ufa-based Motor Federal State Unitarian Enterprises," the report says.
Oboronprom will form a 100% subsidiary, United Engine Corporation Managing Company, and supply it with the aforesaid stock.
"Industry and Trade Minister Denis Manturov said earlier that the decision to pool state-owned engine building assets was aimed at promoting the technological development of the industry. The holding will consolidate scientific and production facilities in order to produce high-tech items and to increase their competitiveness," the report says.