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NPO Saturn became the major shareholder of the New Tooling Solutions company

Site news 28.04.2012

NPO Saturn has become the owner of controlling interest in New Tooling Solutions CJSC (NTS) having acquired 25,01% of shares from Gazprombank OJSC in addition to its own 25,01% of shares. The contribution of ROSNANO OJSC remains unchanged amounting to 49,98% of shares.
The production was launched at NTS two years ago in Rybinsk, Yaroslavl region. Metal-cutting tools produced by the company have no analogues in Russia. The scope of their application spans such high-tech Russian industries as aviation engine engineering, rocket-and-space industry, instrument building, etc.). Nano-structured coating whose application technique has been developed by the Kurchatov Institute extends the life cycle of a given tool by 2-2,5 times while the mean-time-between-regrinding and cutting speed increase by 1,5-2 times.
During the two years since the moment the company was launched, NTS has produced 40 thousand metal-cutting nano-coating tools; it has equally ensured the regrinding of over 97 thousand tools.
Purchasing of controlling interest in NTS will allow NPO Saturn to integrate the company into United engine corporation’s Competence center for production engineering and start managing the company, creating innovative products, in a more effective and flexible way.
‘NPO Saturn acts as the major consumer of the NTS products and it is crucial for us that this company is able to cope with the escalating quality and engineering requirements to metal-cutting tools and is in a position to increase its production volume’, - noted NPO Saturn deputy CEO for corporate governance and legal counsel Valery Nikulin.
 
Research and production association Saturn OJSC – an engine-building company specialized in design, manufacture and aftermarket support of gas-turbine engines for military and civil aviation, power-generation and gas-pumping installations, the Navy boats and commercial ships. NPO Saturn OJSC is part of United engine corporation – a 100% subsidiary of the united industrial company OBORONPROM OJSC with the objective of engine-building asset management.
Gazprombank OJSC is one of Russia’s three major banks. It is rated third on the list of the largest banks in Central and Eastern Europe. Gazprombank is given investment level ratings by the leading international agencies. The regional branch network of Gazprombank comprises 36 subsidiaries and five Russian banks in which Gazprombank or its affiliates have their stock. Gazprombank also participates in the capital of two foreign banks – Belgazprombank (Belarus) and Areximbank (Armenia).
 
NPO Saturn press service:
Phone: +7 4855 296898,
e-mail: press@npo-saturn.ru, www.npo-saturn.ru



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