100% of Salut Shareholding Transfered to Russian Technologies
OREANDA-NEWS. June 22, 2012. The Decree contains the instructions for the Government of Russia to proceed with the transfer of 100% of Salut's shares held in federal ownership in favour of “Russian Technologies”, a State Corporation for the development, manufacture and exportation of high-end industrial products. In pursuance of the Decree's goals, the Federal State Unitary Enterprise “Gas-Turbine Engineering Research and Production Center “Salut” will transform itself into a Joint-Stock Company “Gas-Turbine RPC “Salut” with 100% state ownership and have its Chartered Capital augmented through inclusion of stated-owned 100% shares of JSC “Omsk Research Institute of Engine Manufacture Engineering and Managerial Technologies”.
Upon completion of these procedures, 100% of state-owned Salut's shares will go over to SC “Russian Technologies” by way of a material contribution from the
With Salut's inclusion into the integrated engine-building Oboronprom group of companies, the government-driven industrial policy's agenda of consolidating the engine-builders within the “United Engine-Building Corporation”, a daughter company of Oboronprom, will have come to fruition.