United Aircraft Corporation

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United Aircraft Corporation
Type	State Owned Company
Founded	February, 2006
Headquarters	Moscow, Russia
Key people	Sergei Ivanov (Chairman); Alexei Fyodorov (Director-General)
Industry	Aerospace and defense
Products	Military aircraft Civil airliners
Owner	Russian Government (90.1%^[1])
Employees	TBA

United Aircraft Corporation (UAC), in Russian : Объединённая авиастроительная корпорация (OAK), is a Russian government-owned corporation that consolidates aircraft construction companies and state assets engaged in the manufacture, design and sale of military, civilian, transport, and unmanned aircraft.

UAC was created in February 2006 by Russian President Vladimir Putin. In October 2007 the Federal Financial Markets Service registered a primary issue of common shares for the United Aircraft Building Corporation. The issue included 96,724,000,000 shares priced at 1 RUB ( $0.04).^[2] They also announced plans for a possible 10-15% share issue in 2008, planning to retain a 75% stake.^[3]

In December 2007 the second largest (and state-owned) Russian bank Vneshtorgbank (VTB) announced that it would sell its 5% share in EADS to UAC at market price. ^[4]. Later that month VTB sold its share in EADS to the state-owned Russian Development Bank (VEB)^[5]. EADS already owns a 10% stake in Irkut which it plans to convert into UAC shares^[6], leading to EADS and UAC owning shares of each other.

UAC's Chairman Sergei Ivanov, who is also the Russian Deputy Prime Minister and Defence Minister, has announced that foreign investors will not be admitted to the military sector of the UAC, but such investment will be encouraged in the UAC's civil and transport sector.^{[citation needed]}

It will be the largest ever conglomerate in Russia^{[citation needed]}, encompassing Irkut (which includes Beriev, Irkutsk Aviation Plant, Russian Avionics Design Bureau, IRKUT AviaSTEP Design Bureau and BETA AIR ^[7]) Mikoyan, Sukhoi, Ilyushin, Tupolev, and Yakovlev. It has also been recently announced that the TAPO factory, in Tashkent, Uzbekistan, would also become a subsidiary of the group. By comparison, in the old USSR, by 1953, there were 25 aircraft design bureaus (see OKB) with experimental and serial production plants.

UAC will realize seven projects proposed by the Russian aircraft industry, including the Sukhoi Superjet 100 (formerly the Russian Regional Jet) and a medium-range plane, MS-21 (by Irkut, Ilyushin and Tupolev).

1 Company structure
2 Products
- 2.1 Civilian
- 2.2 Military
3 References
4 External links

[edit] Company structure

The Russian defence minister Sergei Ivanov has been appointed the chairman of the board of the company and Alexei Fyodorov, former head of MiG Corporation and co-owner of the Irkut, was appointed the director-general of the Corporation.