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Energiya, Energomash integration possible only after evaluation by Rosimushchestvo

June 05, 2012, 16:45 UTC+3

At present the state, as represented by Rosimushchestvo, owns 38.22 percent of Energiya shares

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MOSCOW, June 5 (Itar-Tass) — The integration of the space rocket corporation Energiya and the research-industrial association Energomash will happen only after the state property agency Rosimushchestvo has evaluated both enterprises, Energiya’s general designer, Vitaly Lopota, told the media on Tuesday.

“For this integration to happen Rosimushchestvo must carry out the proper procedures to evaluate both enterprises. If integration does take place, the share of the state in the integrated entity, to be created on the basis of Energiya, will considerably exceed its share in the corporation,” Lopota said.

At present the state, as represented by Rosimushchestvo, owns 38.22 percent of Energiya shares. Lopota said Energiya was the managing company of Energomash.

“We have achieved Energomash’s emergence from the crisis, we arranged for the production of engines of all types. We created an absolutely transparent economic situation at the enterprise, we guarantee the execution of our contractual liabilities to customers. I am very much grateful to the Audit Chamber that helped us do away with the shortcomings that did exist at the enterprise,” he said.

He recalled that the integration of both companies would be carried out under a decision made by a government commission.

“We shall act on the government commission’s decision. The integration commission had evaluated all the pros and cons to have arrived at the conclusion the integration will really help the country take a worthy place on the world space market,” Lopota said.



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