Oboronprom to Produce Helicopter Engines in Russia
Rosoboronexport subsidiary, Oboronprom has terminated negotiations to buy out 51 percent plus a stock in one of the biggest engineering enterprises of Ukraine – Motor Sich. The analysts say the deal appeared very attractive to the Russians, but the price proved an insurmountable obstacle. Today’s concern of Oboronprom is to create Russian facilities to produce helicopter engines.
It was Oboronprom General Director Denis Manturov that told Kommersant about termination of negotiations with Motor Sich. “Motor Sich has placed a portion of stocks on Frankfurt Exchange, having narrowed the negotiated stake,” Manturov specified. In June, the western investment funds bought out 6 percent in Motor Sich for $18.7 million, having evaluated the overall capitalization of the company at $311.7 million.
Nowadays, all helicopters produced in Russia operate on the engines of Motor Sich make. Klimov Co. that is a part of Russia’s MiG Corporation assembles a few engines but also from Ukrainian components. So, the initial plans were to integrate Motor Sich in the Russia’s holding that will unite all helicopter makers of the country and, Vyacheslav Boguslaev, who is the general director and principal holder of Motor Sich, was apparently ready to cooperate past summer. This summer, however, the attitude of Ukrainian businessman to the deal was of more skeptical nature.
“Oboronprom probably failed to agree on the price with Vyacheslav Boguslaev,” Infomost GD Boris Rybak supposed. “The deal was of greater interest to the Russian party, as Oboronprom would have immediately strengthened its standing on the market of helicopter makers.
www.kommersant.com
All the Article in Russian as of Aug. 20, 2007
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