United Aircraft Building Corporation
United Aircraft Building Corporation (UAC) — is a Russian government-owned corporation that consolidates aircraft construction companies and state assets engaged in the manufacture, design and sale of military, civilian, transport, and unmanned aircraft.
The main aim of UAC is to keep Russia third on the list of the world's largest manufacturers of the aircrafts, increasing the total income of the companies, which will become a part of the company, from 2.5 billion US dollars to 7-8 billion US dollars within a ten year period.
The state owns 90.1% of shares of UAC and the rest of the shares, which is 9.9%, are owned by a co-owner "Irkut", including the current president of UAC, the general manager of "MiG", Mr. Aleksey Fedorov.
The chairman of the board of directors is Mr. Sergey Ivanov - the first vice-president of the government of Russia. The president of the Russian Federation, Mr. Vladimir Putin, signed a Decree on the foundation of the United Aircraft building Corporation in February 2006. The government of the Russian Federation took a decision on the formation of UAC and announced Mr. Aleksey Fedorov, a general manager of the corporation on 02nd of November 2006. The corporation was registered on the 20th of November 2006.
At the first stage the authorized capital stock of UAC should be divided as follows
- 100% - "Sukhoy"
- 86% - "Ilyushin"
- 65.8% - "Tupolev"
- 38% - Aircraftbuilding plant "Sokol" of Nizhny Novgorod
- 25.5% - KnAAPO
- 25.5% - NAPO
- 15% - "Aviaexport"
- 58% - Financial leasing company
- 27% - "Ilyushin Finance Co"
- Shares of the scientific manufacturing corporation "Irkut"
- 50% + 1 share - Aircraft building plant of Tashkent
It is being planned at the same time that the following entities will becomes state owned stock joint companies, 100% shares of which will be invested in the authorized capital of UAC:
"MiG", Air manufacturing Concern of Kazan.
It is expected that UAC will have three divisions, namely civil, transport and military aviation.