OREANDA-NEWS. June 9, 2012. The Russian president has signed a decree ordering a 100-per-cent stake in Salyut plant, a 2.35-per-cent stake in Rostvertol and a 1.45-per-cent stake in NPO Saturn to be transferred to the Russian Technologies state corporation; all these stakes are to become part of the authorized capital of the OBORONPROM corporation.

On May 17 the Russian president signed a decree ordering the transfer to the Russian Technologies state corporation (which is tasked with facilitating the development, manufacture and export of high-tech products) a 100-per-cent stake in the Salyut company, which makes gas turbines; a 2.35-per-cent stake in Rostvertol, a helicopter maker based in Rostov-on-Don; and a 1.4-per-cent stake in NPO Saturn.

In accordance with the decree Salyut, which is now a federal state-owned unitary company (FGUP), will be transformed into a joint-stock company fully owned by the state. The company's authorized capital will be increased through the addition of a 100-per-cent stake in the Omsk Engine Technology and Production Research Institute, which is also fully owned by the state.

Once these procedures have been completed, the government-owned 100-per-cent stake in Salyut, 2.349-per-cent stake in Rostvertol and 1.446-per-cent stake in Saturn will be transferred to the ownership of Russian Technologies, and then become part of the authorized capital of OBORONPROM Corporation.

Such a method of incorporating Salyut into OBORONPROM has been chosen in view of changes in the structure of OBORONPROM's authorized capital, which is now majority-owned by the Russian Technologies corporation.

The inclusion of Salyut into the United Engine Corporation (UEC), a subsidiary of OBORONPROM Corporation, will complete the consolidation of the Russian engine industry, which is a key element of the Russian industrial policy.