Rostec plans to find a new director for one of its subsidiary companies, Russian Helicopters, with a top official from state arms exporter Rosoboronexport likely to take over, a news report said Monday.
Rostec has made securing a strategic investor for Russian Helicopters a priority and appointing a director who will work closely with the state corporation during the process is seen as a necessity, unnamed industry officials told Kommersant.
Alexander Mikheyev, the deputy head of Rosoboronexport's aviation sector, is said to have a close association with Rostec's head Sergei Chemezov and is the most likely candidate to take over.
British-Italian helicopter manufacturer AgustaWestland, a subsidiary of Italian company Finmeccanica, has been touted as a possible partner for Russian Helicopters.
The incumbent, Dmitry Petrov, is expected to step down after this year's MAKS aerospace show — which runs from Aug. 27 to Sept. 1 — when his contract expires, industry officials said.
Russian Helicopters operates factories that manufacture all major brands of Russian helicopters. The company's revenue in 2012 was 125.7 billion rubles ($3.8 billion), with a net profit of 9.4 billion rubles.
The company has orders worth more than 300 billion rubles for the production of 828 helicopters.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
