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Industry

Liquidation of Oboronprom nears completion

12 January 2018

Oboronprom, the Russian holding company which holds the stock of the nation’s engine-building and helicopter industry, is to be wound up in the near future, according to local media.

Having completed its mission of consolidating the shareholdings within Rostec, Russian Helicopters and United Engine-building Corporation (ODK) will now be managed directly within Rostec later this year, business daily Kommersant says.

Industry sources quoted by the paper say the process of liquidating Oboronprom began two years ago and should be completed by the end of the first quarter this year.

While some sources quoted by the paper said the entity had outlived its usefulness, there was also recognition of the importance of what it had achieved in uniting a fractured base.

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