Russia’s President Vladimir Putin, right, meets MiG GD Alexey Fedorov, left, and Federal Industry Agency Chief Boris Aleshin, center.
Photo: Dmitry Azarov
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The Lifted Air Construction
United Aircraft Construction Corp., the creation of which was spearheaded by President Vladimir Putin, may come up with IPO in 2007, Putin learnt from Federal Industry Agency chief Boris Aleshin and MiG Corp. General Director Alexey Fedorov Tuesday.
MiG Corp. and Kazan Aviation & Production Association are getting ready for becoming joint-stock, Federal Industry Agency chief Boris Aleshin told President Vladimir Putin during the meeting in Bocharov Ruchei residence, which highlight was creating United Aircraft Construction Corp.
The Charter of United Aircraft Construction Corp. has been shaped already; it spells out participation of the state and of private capital. The assets of other companies that are expected to merge into the corporation are being evaluated. “In substance, these three actions will enable to submit the company for incorporation by late September,” Aleshin vowed.
But Alexey Fedorov, who is the general director at MiG Corp. and the future chief of Untied Aircraft Construction Corp. wasn’t so optimistic, complaining about the strict dates specified for setting up the corporation of such integrity. “The thing is that, in the recent history, the structures of such compound integration haven’t been set up so quickly. I really think the dates are very narrow.”
“But executable,” Fedorov murmured in defense after a little while.
Another tricky point in Bocharov Ruchei was the Act on the Aviation Activities that provides for extending the interest of foreigners in civil aircraft producers up to 49 percent. Putin was obviously agitated.
“We all know the projects in civil aviation that weren’t implemented because a foreign partner insisted exactly on the 50-percent interest,” the president warned. But Fedorov assured most of aliens are eyeing the blocking stake of 25 percent plus a stock that guarantees investments and prevents the capital from watering.
But the hot news was that United Aircraft Construction Corp. intends to attract foreign investors, including the strategic ones, already in 2007. Preparations for the IPO are due to complete in 2007, the officials said. It will be a real record, as so far, no company of this size has reached IPO so promptly in the world.
www.kommersant.com
All the Article in Russian as of Aug. 23, 2006
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