Uzbek aircraft maker Chkalov Tashkent Aircraft Production Association, or TAPOiCh, will be merged into Russia’s United Aircraft Corporation (UAC) before the end of 2008, Viktor Livanov, a member of UAC’s management board, said Thursday at a briefing in Ukraine’s Kiev.
During a meeting in Uzbekistan on Monday and Tuesday, an Uzbek-Russian working group signed a protocol and developed a plan for the merger of TAPOiCh into UAC, Livanov, who headed UAC’s delegation at the meeting, said.
Shares of TAPOiCh will be swapped for additional shares of UAC, Livanov said, commenting on the mechanism of the deal. UAC is currently estimated to be worth 97.6 billion rubles, he said, adding that this estimation would be revised.
In Kiev, Livanov took part in a presentation of UAC’s joint projects with Ukrainian state holding Aviation of Ukraine.
Established in November 2006, UAC includes stakes in Russia’s largest aircraft makers, such as Tupolev, Sukhoi, Ilyushin and others. The Russian government owns over 90% in UAC.
Some more Russian aircraft makers are expected to join UAC at the beginning of 2008.