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Government Approves Statutory Documents Of Antonov Corporation.

Government Approves Statutory Documents Of Antonov Corporation.

7 October 2008

The corporation will be made up of the state owned enterprises: ANTK Antonov,   Aviant, the Civil Aviation Plant 140 and the Kharkiv State Aviation Plant. The participants will retain their independent legal status, but will lose the right to join with other enterprises or quit the corporation. The government can include other state-owned assets into the corporation. A ?Common Projects? fund will be created, which will be financed by the state, the participants themselves, loans and by issuing securities. The corporation will make agreements for final products, while the participants will act as subcontractors. Concorde Capital: The purpose of the corporation is to consolidate the Ukrainian aviation industry in order to make it more competitive. The corporation will focus on the regional and heavy-weight cargo aircraft segment. This is good news for Motor Sich (MSICH: BUY), the supplier of engines for the aircrafts.

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