MOSCOW, August 24. /TASS/. The merger of the Sukhoi and MiG companies into a single military aviation division under the roof of the United Aircraft Corporation (UAC), will be completed by 2019, Russian Minister of Industry and Trade Denis Manturov said in an interview with TASS.
According to him, UAC is currently reorganizing its structure aimed at dividing assets in accordance with aircraft types, so the military, strategic, special, civil and transport aviation divisions are being set up.
"Sukhoi and MiG will be included in the military aviation division," the minister said.
"A thing to note is that for the two companies, it marks the continuing consolidation process, since each of them has already established a single entity consisting of separate enterprises and also started issuing common shares," Manturov added.
"According to the plan, the transformation process will be completed by 2019," he went on to say.
"A new venture will be established, made up of MiG and Sukhoi, as well as some other assets. Both companies will be able to make use of each other’s developments, technologies, test benches and resources," the Russian industry and trade minister said.
Manturov pointed out that at the same time, the changes would not affect world-famous brands, educational projects, and aircraft under the brand names of Sukhoi and MiG will continue to be produced.