MOSCOW. March 11 (Interfax-AVN) - The Rostekhnologii (Russian Technologies) state owned corporation and the United Aircraft Corporation (UAC) have signed an agreement on cooperation, the companies said in a joint press release.
"In pursuing the goal of strengthening the market foothold of domestic aircraft manufacturing enterprises, state corporation Rostekhnologii and the UAC have begun forming a system that will allow the UAC to lower the cost of a considerable amount of components purchased from the corporation's enterprises and to significantly increase its aircraft production," the companies said.
The UAC is ready to provide Rostekhnologii's firms that make components with guarantees that they will receive orders to deliver a certain amount of components for at least three-five years. The companies also expressed their intention to switch to arrangements in the future that will enable them to be more flexible while setting prices for components depending on inflation, the cost of energy and materials, tax regulations and banks' interest rates, they said.
The UAC can place 30 billion rubles worth of orders with Rostekhnologii enterprises as part of the country's civilian aviation program until 2012.
The companies also reached an agreement on possibilities to finance joint programs, to pursue a common marketing policy, to reequip suppliers, to improve post-sale servicing arrangements, and to draw up a program to develop the state corporation's firms that cater to the needs of the aircraft producing industry.