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An executive board meeting of United Engine Corporations (UEC) Commercial Engines Division took place

Site news 23.04.2015

April 23, 2015, Rybinsk. - A planned executive board meeting of United Engine Corporations Commercial Engines Division took place in the format of a video conference attended by the representatives of the companies located in Moscow, Rybinsk and Perm.
During the meeting, NPO Saturn CEO, head and chairman of the Commercial Engines Division Ilya Fedorov informed the board members and the invited persons of his decision to resign from his post of NPO Saturn chief executive officer effective from 1 May 2015. Mr. Fedorov thanked his colleagues from UEC, Aviadvigatel and PMZ for the collaboration over two and a half years in the frame of the division, wished them success in the development of commercial engine manufacturing and delegated his authority to lead the future session of the Commercial Engines Division’s executive board to the deputy chairman of the Commercial Engines Division, CEO of Perm Engine Plant Mr. Sergey Popov.  
The Commercial Engines Division executive board reviewed the items related to the strategy of financing and performing the R&D activities on the PD-14 engine and adjustment of budgets of the companies in the Commercial Engines Division in view of the ongoing crisis for 2015 and over the period of 2016-2017. In particular, the board members conferred over the fixed costs optimization, expansion of outsourcing, reconsideration of the companies’ investment projects, signing additional delivery contracts, increasing revenue resulting from the participation in the subsidy programs of industrial companies administered by the state, working with the suppliers towards mitigation of increasing the prices of raw materials, rough parts, purchased components and a number of other measures.
The NPO Saturn Research and Production Association (OJSC) is an engine-manufacturing company specialized in the design and development, production and after-market support of gas turbine engines for military and commercial aviation, naval ships and power-generating plants and gas-pumping units. The association is part of the Union of Russian Mechanical Engineers, an all-Russian public organization.
NPO Saturn is part of United Engine Corporation (JSC) and acts as the leader of the Commercial Engines Division, a business unit of UEC founded on 09.10.2012 as a result of integration of the following companies: NPO Saturn (OJSC), Aviadvigatel (OJSC), PMZ (OJSC), Metallist-PM (CJSC), Energetik-PM (OJSC), REMOS-PM (CJSC), Motoservis-PM (CJSC) and Zheleznodorozhnik-PM (CJSC).
United Engine Corporation (JSC) (a Rostec State Corporation company) is an integrated organization specialized in the design and development, serial production and after-market support of the engines for military and commercial aviation, space programs, the Navy, as well as for the oil and gas industry and power generation. One of UEC’s prioritized fields of activity is the implementation of comprehensive programs of development of the companies in the industry by introducing new technologies meeting the world-class standards. In 2013 revenues of the corporation amounted to RUB 158.9 billion.

The Rostec State Corporation is a Russian corporation established in 2007 in order to facilitate the development, manufacturing and export of high-technology industrial products of military and commercial application. Today it comprises over 700 companies, which form 9 defense-industrial and 5 civil industry holdings as well as 22 direct control companies. The Rostec portfolio includes such renowned brands as AVTOVAZ, KAMAZ, Russian Helicopters, VSMPO-AVISMA, etc. Rostec’s subsidiaries are located in 60 regions of Russia and deliver their products to over 70 countries worldwide. In 2013 revenues of the corporation amounted to RUB 1.04 trillion. Total taxation exceeded RUB 138 billion.

NPO Saturn press service
Phone: +7 4855 296898
E-mail: press@npo-saturn.ru
www.npo-saturn.ru




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