The Cabinet of Ministers at the proposal of the Asset Recovery and Management Agency (ARMA) has transferred shares of the Vinnytsia Aircraft Plant to the management of Motor Sich (Zaporizhzhia), the largest manufacturer of aircraft engines and gas turbine installations.
The Ministry of Economy has said this in a statement, Ukrainian News Agency reports.
"Currently, the shares of the Vinnytsia Aircraft Plant are under the management of ARMA by court order. In turn, Motor Sich PJSC, by decision of military bodies, was alienated in favor of the state in November 2022. Now Motor Sich is managed by the Ministry of Defense," the report said.
According to Deputy Minister of Economy Oleksii Sobolev, the Vinnytsia Aircraft Plant historically works closely with Motor-Sich, performing major repairs and modernization of engines for helicopters.
"It was considered appropriate to transfer the management of the Vinnytsia Aircraft Plant from ARMA to Motor Sich PJSC. This will ensure the smooth operation of the plant, improve management and allow both enterprises to work effectively for the defense of Ukraine," said Sobolev.
Earlier, the Vinnytsia Aircraft Plant was owned by the former president of Motor Sich Viacheslav Bohuslaiev, suspected of aiding the aggressor state of Russia.
As Ukrainian News Agency earlier reported, shares of Motor Sich, Ukrnafta, AvtoKrAZ, Zaporozhtransformator (ZTR) and Ukrtatnafta companies were alienated into state property for the period of martial law, after its termination they may be returned to their owners or their value will be reimbursed.
Who we are: About us, Contacts. How we write news and our principles: Editorial code. We did our best. If you found this valuable – please support us.
To request a correction, please send an email.