Nineteen joint stock companies fulfil the state defence order on a number of key critical technologies, and control over execution of this order vested in the Corporation.
MOSCOW, 4 Jan. Prime Minister of Russia Dmitry Medvedev signed a decree according to which the state Corporation rostec transferred shares of 19 joint stock companies, the relevant document published on the government website on Monday.
“Signed by order approved the decision to transfer the Corporation’s shares of 19 organizations as a property contribution of the Russian Federation. These organizations fulfil the state defence order on a number of key critical technologies. Control over execution of this order vested in the Corporation. The basic development programmes of these organizations, including the budget, are formed in accordance with the legal acts of the state Corporation”, — stated in the message.
It is noted that the decision will allow for consolidation of shareholdings of these organizations in the state to prevent “erosion” of its share in the statutory capital of joint stock companies and to ensure the preservation of control over their activities.
Rostec is a Russian Corporation established in 2007 to promote the development, production and export of high technology industrial products. The Corporation consists of 15 industry-specific holding companies (including “Helicopters of Russia” and “United engine Corporation”, “Kalashnikov”, etc.), and 32 direct and control 14 infrastructure organizations.