MOSCOW, February 21 (AVN) - The situation in the Permskie Motory JS and its subsidiaries is absolutely inadmissible for the state, director general of the Russian Aviation and Space Agency Yuri Koptev said on Wednesday.
The government owns only 14.1 percent of the holding company's shares and does not own a single share of the company's subsidiaries - Perm engine plant and Proton plant, Koptev told the Military News Agency.
For this reason, a scheme envisaging the transfer of 37.2 percent of Permskie Motory's shares to the state in order to restructure the company's debts was elaborated. In case the scheme takes effect, the state will get the controlling interest - 50 percent plus one share - in the parent company and the blocking parcel of shares - 25 percent plus one share - in the two subsidiaries.
The Russian Aviation and Space Agency being the representative of the state wants to influence the situation around the two defence industry plants producing PS-90 aircraft engine of the fourth generation and engines for Proton boosters, Koptev said. The plants are expected to make engines for Angara-family booster rockets in the near future, he added.