Why Sukhoi, MiG and United Aircraft in Russia merge
In Russia, United Aircraft Corporation announces the merger with aircraft manufacturers Sukhoi and MiG. All the details
Restructuring of the aviation sector in Russia is underway.
Russia's United Aircraft Corporation (UAC) has announced the merger with aircraft manufacturer Sukhoi and aerospace company MiG.
“The merger of the company, Sukhoi Company and MiG was approved at the meeting of the UAC board of directors held on November 30th. The question of the UAC reorganization in the form of union with Sukhoi and MiG will be submitted to an extraordinary general meeting of shareholders Vac, scheduled for January 2022, "the company said in a note . "The upcoming merger is the most important event for the aviation industry," the note added.
Both MiG and Sukhoi were subsidiaries of UAC since 2006, but with a certain autonomy.
Russian state conglomerate Rostec State Corporation (Rostec) will combine the three companies into a single aircraft manufacturing center to consolidate the management of aeronautical programs and other resources.
Starting next year, UAC will become a fully-fledged operating company.
The consolidation of Russian military aviation had long been on Moscow's agenda for the production of next-generation warplanes and to keep up with the latest changes.
All the details.
HOW THE RENOVATION WILL BE
"The AUC continues to centralize the management of companies and simplify its structure," the company said in a statement.
The goal is to create "a structure capable of giving a powerful impetus to the development of the whole industry".
According to RIA Novosti , the group's engineering and design functions will be divided into a separate center, which will be located in Moscow and will include all aeronautical design offices.
WHAT THE UNITED AIRCRAFT CORPORATION (UAC) DOES WITH SUKHOI AND MIG
The United Aircraft Corporation (Uac), which brings together the main Russian manufacturers of civil and military aircraft (Soukoi, Antonov, Tupolev), joined, in 2018, the public conglomerate Rostec which includes hundreds of companies, mainly in the defense and of technology.
HOW IS THE SUKHOI COMPANY
Sukhoi is the well-known Russian aircraft manufacturer and recently presented a new fifth generation fighter at the Moscow Air Show Maks-2021 . He designed Su-57 to fit the American F-22 Raptor stealth fighter.
According to the 2020 results, the company recorded 140 billion rubles in turnover (46% more than in 2019) and a net profit of 5.6 billion rubles (26% more than the 2019 level).
THE ACCOUNTS OF THE MANUFACTURER MIG
MiG is also an aircraft manufacturer. In 2020, the company's turnover was 70 billion rubles, surpassing the 2019 level by 19%.
THE OBJECTIVES OF THE MERGER
The objectives of this three-way merger are to increase the economic sustainability of the Uac Group, optimize administrative and managerial staff, reduce non-productive costs and debt.
“The structural transformations aim to increase the use of production capacities and labor productivity. The cumulative optimization effect of the transformations underway should reach 130 billion rubles, ”said UAC Director General Yuri Slyusar.
THE NEW GOVERNANCE
Until now, the AUC had the role of a simple aggregation body of aircraft manufacturers. Soon it will then transform itself "into an operating company that directly manages the production sites and design offices".
In addition to performing the functions of the Group's business center, Uac will become an operating company, directly manage the production sites and design offices, implement aviation programs and develop advanced technologies. Therefore, the transition from a 3-tier corporate structure to a 2-tier corporate structure of the UAC was initiated. At the same time, the strong and world-famous brands Sukhoi and MiG will remain, design schools will continue to develop, explains the note.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/smartcity/perche-sukhoi-mig-e-united-aircraft-in-russia-si-fondono/ on Thu, 02 Dec 2021 15:23:06 +0000.