ANNOUNCEMENT 13 Sep 2010In September 2010, the government of Russia announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
Decree # 722 issued 13 September 2010 - http://www.government.ru/gov/results/12224/
Russian Prime Minister Vladimir Putin signed a ruling (Decree # 722 issued 13 September 2010) to provide state guarantees to the government-controlled defense company Oboronprom on its bonds. The ruling is part of the program to develop the aircraft sector which was announced in the "Programme of the long term socio-economic development of the Russian Federation until 2020" (Government Decree # 1662-p from 17 November 2008).
Oboronprom includes producers of helicopters, gas turbine engines, and air defense systems.
Information from the website - http://www.oboronprom.ru/en/ :
·Oboronprom Corporation is a diversified industrial-investment groups in the engineering and high technologies sectors
·Russian Helicopters, Oboronprom's helicopter manufacturing group, is the leading Russian designer and manufacturer of rotary-wing aircraft equipment
·Oboronprom is creating an engine building holding that will be the leading Russian industrial group producing engines for aircraft and gas compression stations
·Oboronitelnye Sistemy, a subsidiary of the Corporation, is the sole Russian producer of the unique Pechora-2M air defence missile system
·The enterprises of the Corporation produced goods and provided services worth over $3 billion in 2008 Over 100 thousand people work for the Corporation's enterprises from Moscow to the Far East