Rosoboronexport chief Sergey Chemezov attends MAKS-2007 International Air Show.
Photo: Sergey Shakhidzhanyan
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The Corporate Movement
The idea of Sergey Chemezov to make out of the federal-run Rosoboronexport a state corporation is materializing. Putin’s administration has submitted to the government a bill spelling out the creation of Rostekhnologii (Russia’s Technology) Corporation that will take over Rosoboronexport along with its all subsidiaries. A new giant will not only control the weapons sales but also focus on manufacturing and selling the civil product.
Rostekhnologii will be set up in two stages. To begin with, the federal-run Rosoboronexport will be reorganized into an open joint stock company. Then, 100 percent of its stocks will go to Rostekhnologii. The definite size of the authorized capital of the latter is yet unclear as it is impossible to evaluate all assets to be contributed to it. Of interest is that Rostekhnologii will have the stocks of Rosoboronexport firms even before it becomes a joint stock company.
Top management of Rosoboronexport had been lobbying establishment of the state corporation since 2005, but the matter gained momentum only after the first state-run corporations emerged in summer – Bank for Development (Vneshekonombank), Rosnanotekh and State Atomic Energy Corporation.
According to today’s chief of Rosoboronexport Sergey Chemezov, creation of Rostekhnologii will adjust control over the firms of Rosoboronexport. Chemezov hopes to head a new corporation, while the office of Rosoboronexport director is likely to go to one of his deputies.
www.kommersant.com
All the Article in Russian as of Sep. 04, 2007
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