OBORONPROM contributes shares of the enterprise valued at 1,15 billion rubles into Stankoprom holding

24 February 2014

Source: ITAR-TASS

UIC Oboronprom OJSC, incorporated into Rostech, will obtain shares of two enterprises of its daughter structure – the United Engine Building Corporation (ODK) at a sum of 1,15 billion rubles. This is reported in materials from Oboronprom.

ODK will transfer to Oboronprom 150 thousand shares of Repair, Modernization, Service CJSC- Perm Motors and 662,7 thousand shares of Tool Plant-PM CJSC-Perm Motors. In exchange, ODK will receive 55,6 million shares of Ufimsky Motor Building Manufacturing Union with a comparable value of 1,15 billion rubles.

In the united industrial corporation “Oboronprom” ITAR-TASS explained that the volume of shares is a result of formation of the Stankoprom machine tools holding, the only shareholder of which is a corporation itself.

”Shares of two enterprises that will be transferred to Oboronprom are planned to be brought into the authorized capital of Stankoprom. Shareholders ought to affirm this decision”,- stated a representative of the corporation. The coming high-priority meeting of shareholders in UIC Oboronprom OJSC is planned for March 27^th, though the issue of transfers of shares into Stankoprom is not on the agenda.

The state is to create the Stankoprom holding, which could prospectively unite all of the country’s most important machine-tool assets. Forming the basis of the new holding are the enterprises entering into a Rostech daughter company – RT-Stankoinstrument.

Previously, the first deputy head of the Ministry of Industry and Commerce Gleb Nikitin reported to ITAR-TASS, that the formation of the holding required roughly 30 billion rubles, of which 11 billion ought to be composed of private investments and bank credit. The formation of the holding was planned to be completed in February of 2014. Besides the civil sector, Stankoprom could become the sole supplier of machine tools – both Russian, and foreign – for defense enterprises. This issue was being considered by the government of the RF in July of 2013 and, as the media has reported, was met with support.

The Oboronprom corporation is a multifaceted industrial-investment group in the field of machine building and high technology, belonging to GK Rostech. It unites the assets of a leading Russian helicopter building holding Russian Helicopters JSC and United Motor Building Corporation.