Russian Aviation and Space Agency to create 30 integrated holdings

Within the next three years, companies of the Russian Aviation and Space Agency (Rosaviakosmos) will be united into concerns; as a result, 30 integrated holdings will be formed, including 19 in the aircraft industry and 11 in the rocket-and-space industry. This information was released by general director of Rosaviakosmos Yury Koptev. He said that the major reason for these changes was the necessity to increase the competitiveness and export supplies of Rosaviakosmos's companies. The forming of concerns is to lead to a creation of conditions for attracting non-budget investments and improving the use of state property.

The companies will be united on the grounds of product and technology specialization and based on forecasts for the development of the market of aircraft and space equipment in Russia and abroad. Primary attention will be paid to the legal classification of companies and the creation of subsidiaries and holding companies, which will be joint-stock companies, their majority stakes owned by the state. The management pattern in the integrated holdings will be determined by the Russian Civil Code and the federal law on joint-stock companies.

Currently, Rosaviakosmos includes several integrated holdings.

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