UAC and Russian Technologies pact to boost Russian aviation
Release Date: 2009-03-11
Two of Russia’s giant State corporations, Russian Technologies and United Aircraft Corporation (UAC), have joined forces aimed at making Russia’s aviation ever more competitive, according to a joint press released posted in the specialized Russian aviation and air transport website www.RussianAvia.net.
The cooperation agreement between the industrial and the aviation holdings will allow UAC to reduce the cost of components purchased from its member companies and considerably increase the aircraft production volume. The deal is especially important because the share of components in production cost of Russian civil aircraft can reach 80%. Implementation of the signed agreement will increase the profitability of UAC’s contracts and provide acceptable price, quality and volume for the aircraft production program in 2009-2012.
The agreement was inked by Sergey Chemezov, General Director of Russian Technologies and Chairman of Russian Engineering Union, represented by Alexey Fedorov, President and Chairman of the Board of UAC. As Chemezov, noted at the signing ceremony, “Aviation construction is a scientific sphere where the most advanced technologies are implemented. From our perspective, our task is to provide a united technological space, minimize production cost of the end products for each unit. This is the only way to provide Russia’s competitiveness as a leader in aviation”.
Alexey Fedorov, President of UAC, agreed: “This agreement will allow improving consumer characteristics of the manufactured aircraft and load our suppliers who are members of Russian Technologies. This means to reduce production cost of the aircraft in order to increase its competitiveness and quality and organize a correspondingly upgraded after-sale service”.
The objective of the agreement is to develop the existing industrial cooperation system, increase competitiveness of the created products and concentrate industrial and financial resources to efficiently implement the prospective programs in aviation equipment and enhance the market position of Russian aviation enterprises.
The agreement concerns the majority of civil and military programs of UAC.
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