Russia's Federal Antimonopoly Service granted the application of JSC Managing Company United Engine Corporation for the acquisition of four aircraft repair plants, the regulatory body informed.
In particular, MC UEC intends to become the sole owner of OJSC Aircraft Repair Plant 570 (Yeysk, Krasnodar Krai), OJSC Aircraft Repair Plant 712 (Chelyabinsk-15), OJSC Aramil Aircraft Repair Factory (Sverdlovsk region) and OJSC Aircraft Repair Plant 218 (Gatchina).
All the target enterprises provide repair and maintenance services for aircraft and aircraft engines.
According to the watchdog's ad hoc comment, the successful completion of these transactions will put MC UEC in a dominant position (more than 50%) in the Russian market of aircraft / military aircraft engine repair, maintenance and remodeling services, enabling the company to exercise a decisive influence on the general service terms in this market.
JSC Managing Company United Engine Corporation (MC UEC, tax number: 7731644035) is a 100% special-purpose vehicle of OPK Oboronprom managing its engine-building assets and uniting 80% of the engine-building assets.
OJSC OPK Oboronprom (name as per Articles, tax number: 7718218951) is a diversified machine-building group established in 2002. Today, it is part of the Russian Technologies Group. The company is engaged in the manufacture of helicopters (OJSC Russian Helicopters), engine-building (JSC Managing Company United Engine Corporation), and manages other assets.
IFRS net profit of Oboronprom for 2012 decreased 3.9-fold to RUB 8.372 billion from RUB 32.649 billion. Revenue grew by 22.7% to RUB 216.048 billion from RUB 176.045, GP by 39.5% to RUB 77.974 billion from RUB 55.859 billion. Pre-tax profit decreased 3-fold to RUB 12.501 billion from RUB 37.442 billion.
According to the information and retrieval system DataCapital, RAS net profit of OJSC OPK Oboronprom for H1 2013 decreased by 44.37% to RUB 923.528 million from RUB 1.66 billion the year before. Revenue increased by 6.94% to RUB 1.694 billion from RUB 1.584 billion, sales profit by 45.96% to RUB 1.279 billion from RUB 876.264 million, pre-tax profit decreased by 49.49% to RUB 864.694 million from RUB 1.712 billion.