UAC will become part of Rostec in 1H 2020

The process of transferring the shares of the United Aircraft Corporation may be completed in the first half of 2020, Rostec’s General Director Sergey Chemezov told journalists at an exhibition in Dubai. “Today the UAC shares are in the process of being transferred to Rostec, I think it will take some more time. But I hope we will complete this process in the first half of the next year,” - Chemezov said.

He also noted that the next year will be devoted to cluster reorganization after the transfer process completion. “We will make three, or perhaps four, divisions,” - he said.

“Those will be civilian, military, transport and, probably, the fourth one will be strategic aviation. We may join it with the transport aviation but this matter is now being discussed. Naturally, much work is needed to reduce costs, and we will make also some changes to our organizational structure so that all Rostec companies are included in this cluster. Companies manufacturing components, engines and so on will be joined in on cluster,” - Chemezov said.

Source – RIA Novosti 

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