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25/10/2018 - 07:44

Integration of UAC for Rostec

Rostec CEO Sergei Chemezov comments on the association.

"This is a very important moment for the aviation industry. As a result of the integration of UAC with Rostec's aviation cluster companies, an aircraft construction association is being created nationwide - Russia's largest. We are talking about consolidating the country's main aviation assets, which will allow us to focus the efforts of the state and the equipment and component manufacturers to meet the strategic challenges facing the industry, "said Sergei Chemezov, CEO of Rostec.

"With the entry of UAC into Rostec, we are taking on serious obligations related to the funding and successful implementation of government programs and projects in the field of aircraft manufacturing. First of all, this medium-range MS-21 project, in which we are ready to invest more than 50 billion rubles by 2025, "Rostec reported.

UAC is a complex resource and several processes need to be reconfigured. Therefore, the priority tasks we face are the optimization of the management and production processes. It is necessary to eliminate duplication of functions, optimize load capacity and create technological, production and acquisition cooperation between aircraft manufacturers and components.

 "The new interaction structure will enable the Russian aviation industry to work on a single logic. The completion of all integration-related procedures is expected within 18 months, "concluded Sergei Chemezov.

Profile — Rostec is a Russian State Corporation that was established in 2007 to facilitate the development, production and export of high-tech industrial products designed for civilian and military applications. The Corporation comprises over 700 organizations that are currently part of eleven holding companies operating in the military-industrial complex and three holding companies working in civilian industry, as well as over 80 directly managed organizations. Rostec's portfolio includes well-known brands such as AVTOVAZ, KAMAZ, Concern Kalashnikov, Russian Helicopters, UralVagonZavod, etc. Rostec companies are located in 60 constituent entities of the Russian Federation and supply products to the markets of more than 100 countries. In 2017 the consolidated revenue of Rostec reached 1 trillion 589 billion rubles, while the consolidated net income and EBITDA amounted to 121 and 305 billion rubles respectively. In 2017 the average salary in the Corporation was 46,800 rubles. According to Rostec's strategy, the main objective of the Corporation is to ensure that Russia has a technological advantage in highly competitive global markets. Rostec's key objectives include the introduction of a new techno-economic paradigm and digitalization of Russian economy. | PR Newswire

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