United Aircraft Corporation

United Aircraft Corporation

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United Aircraft Corporation

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Description:
JSC United Aircraft Corporation (UAC (Russian: Объединённая Авиастроительная Корпорация, Obyedinyonnaya Aviastroitelnaya Korporatsiya (OAK)) is a Russian open joint stock company. With a majority stake belonging to the Russian Government, it consolidates Russian private and state-owned aircraft construction companies and assets engaged in the manufacture, design and sale of military, civilian, transport, and unmanned aircraft. Its headquarters is in Moscow.

History

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 (US$0.04). Currently, after placing 5 additional share issues, the Corporation's chartered capital amounts to 174.61 bln. RUB. The share of the Russian Federation in UAC’s chartered capital is 80.29%.

In December 2007 the second largest (and state-owned) Russian bank Vneshtorgbank (VTB) announced that...
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