On January 9, Vitebsk / Diana Kurilo - BELTA /. The state has alienated shares of Orsha Aircraft Repair Plant OJSC through sale to strategic investors - Systems of Investments and Innovations CJSC (Belarus) and Motor Sich PJSC (Ukraine). Directive No. 335rp dated December 30, 2011 on the alienation of shares was signed by the President of the Republic of Belarus, Vladimir Troitsky, Director of Orsha Aircraft Repair Plant OJSC, informed BELTA correspondent.
The state owned 99.2% of the shares in the charter capital of Orsha Aircraft Repair Plant OJSC, while 0.8% of the shares were owned by the enterprise's labor collective. The state-owned block is fully sold to investors: Systems of Investments and Innovations CJSC becomes the owner of 1,488,171 shares, and Motor Sich PJSC is sold 2,232,256 shares (about 60%).
Investors undertake to invest at least $12 million in the reconstruction and modernization of production facilities within 2012-2016 and create over 300 jobs. In addition, within two years from the date of signing the investment agreement, the new owners of the enterprise must reconstruct two dormitories of Orsha Aircraft Repair Plant and also direct about Br20 billion to the socio-economic development of the settlement of Bolbasovo within five years.
Systems of Investments and Innovations CJSC must present a comprehensive concept for the creation of a logistics center using the capabilities of the Orsha airfield to the Council of Ministers by April 2012.
The Council of Ministers is instructed to ensure the conclusion of share sale and purchase agreements, and an investment agreement between the Republic of Belarus, represented by the Ministry of Transport and Communications, and Systems of Investments and Innovations CJSC and Motor Sich PJSC within one month.
According to Vladimir Troitsky, the arrival of Motor Sich, one of the largest manufacturers of aircraft engines, will allow the aircraft repair plant to strengthen its position as a leading helicopter repair enterprise and stabilize its financial and economic situation.
Orsha Aircraft Repair Plant was established in 1941. At the end of 2009, the enterprise was incorporated. The plant holds a certificate from the Aviation Register of the Interstate Aviation Committee, which certifies the compliance of Orsha Aircraft Repair Plant with the requirements of Aviation Regulations, standards and recommendations of ICAO, international standards ISO series 9000, as well as JAR-145 and EAR-145 rules. Orsha Aircraft Repair Plant holds a certificate of the Russian Federal Aviation Regulations FAP-145R for the right to perform overhaul maintenance of Mi-8 helicopters. The production growth rate in comparable prices in 2011 compared to 2010 was 113%, the revenue growth rate in comparable prices was 130%. Based on the year-end results, the enterprise managed to achieve break-even operation.
PJSC "Motor Sich" is one of the world's largest manufacturers of engines for aviation equipment, as well as industrial gas turbine units. It supplies products to 106 countries worldwide. The Russian Federation accounts for about 30% of the enterprise's total export volume. "Motor Sich" meets more than 80% of the Russian Federation's aviation industry's demand for helicopter engines.
BELTA