MOSCOW, March 5 (RIA Novosti) - A 100% stake in Klimov, Russia's leading producer of gas-turbine engines, has been transferred from federal ownership to state-owned jet-manufacturer MiG, the Russian president's press service said Monday.
President Vladimir Putin signed the corresponding resolution in line with plans to set up the United Aircraft Building Corporation (UABC), which will be a majority state-owned corporation consolidating aircraft building companies and state assets engaged in the manufacture, design and sale of military, non-military, transport and unmanned aircraft in a bid to streamline the aviation industry.
The document came into effect after being signed.
Klimov produces engines for jet fighters and helicopters. A total of 95% of Russian helicopters, which operate in 80 countries, are equipped with Klimov-made engines. The company also supplies engines to the president's helicopter fleet.
