Aviastar-SP Plant Must Produce 12 instead of 5 Aeroplanes Annually

Sergei Kiriyenko, President's Plenipotentiary in the Privolzhsky Federal District, who was recently elected Chairman of the Board of the Aviastar-SP aviation plant in the city of Ulianovsk, said the plant must produce at least 12 instead of 5 aeroplanes annually. He made this statement yesterday during a meeting of the Board of Directors.

According to Mr. Kiriyenko's press service, ownership rights had to be clarified, the financial situation of the company deeply analysed, and actual measures to be taken found during this quarter of the year. Mr. Kiriyenko believes the completion of the programme of ending the ongoing crisis at Aviastar-SP should take between 1.2 and 2 years.

These and other issues will be discussed during the next meeting of the board, late in February. A general stockholders' meeting will take place in the city of Ulianovsk on June 10. The stockholders will approve the annual report, consider amending the company's charter, and discuss the appointment of the General Director.

The Aviastar-SP company was founded during the reconstruction of the Ustinov Aviation Production Complex. The latter was founded in 1976. This Russia's largest aviation plant makes, sells, services, and maintains such aeroplanes as TU-204 and Ruslan. The latest modification of the former, TU-204-120 is fitted with Rolls-Royce engines.

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