Russia, EADS to roll out transport planes outside Moscow
09/01/2007 17:09 LUKHOVITSY (MOSCOW REGION), January 9 (RIA Novosti) - Russia and a European aerospace and arms giant are set to build transport aircraft outside Moscow, Russia's defense minister said Tuesday.
European Aeronautic Defense and Space Company (EADS) has been considered a welcome partner for United Aircraft Building Corporation (UABC), a new umbrella company for Russia's aircraft industry being formed to consolidate major domestic assets in aircraft manufacturing in a bid to streamline the sector.
"We have agreed with EADS to arrange the production of transport Airbuses in Lukhovitsy," Sergei Ivanov said while visiting aviation production facilities in the town.
He said the facilities could concentrate on the production of civilian aircraft.
"The strategy of United Aircraft Building Corporation is to use leading military and transport aircraft-makers as the basis for serial production of civilian aircraft," Ivanov said.
The 90% state-owned giant, which has charter capital of 96.72 billion rubles ($3.68 billion), will incorporate commercial and military aircraft makers such as MiG, Sukhoi, Ilyushin and Tupolev, as well as companies involved in distribution, including Aviaexport.
It is set to begin operations in the first quarter of 2007 and to hold an IPO at the beginning of 2008.
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