Progress Design Bureau exits state aviation corporation

According to Interfax, the Progress engine design bureau has left the state-run corporation Aviation of Ukraine. Ihor Kravchenko, Progress’ chief designer, said he perceived this news as positive: breaking ties with the state concern will allow Progress to concentrate on joint projects with Motor Sich (MSICH: BUY). The design bureau first announced plans to break away in June 2007. Inna Perepelytsya: We believe that both Progress and Motor Sich will benefit from Progress’ withdrawal from the state structure in terms of enhanced synergies in new helicopter and airplane engine projects and aftermarket services.