19.07.2012

UEC shareholders’ meeting confirms changes in the company management system

Moscow. July 19, 2012 — The shareholders’ meeting of the United Engine Corporation (a subsidiary of OBORONPROM) has confirmed the company’s new management system.

VladislavMasalov was appointed UEC General Director. He is presently the general director of Salyut Scientific-production center for gas turbine construction.

VladislavYevgenevichMasalov, born in 1970

— graduated in 1992 from the finance and economics faculty of the State Finance Academy under the Government of the Russian Federation, specializing in finance and credit.

From 1992 to 2004, he worked in leadership positions in a number of financial-industrial companies and banking structures.

From 2004-2005 he was deputy chairman of Absolut Group.

From 2005 to 2009 he was general director of the Gletcher group of companies.

From 2009 to 2010 he was deputy general director for economics and finance and deputy managing director for economics and finances at Saturn.

From 2010 to 2011 he was acting general director at Salyut.

Since March 31, 2011, he has been general director of Salyut.

In accordance with Decree of the Russian President and Order of the Russian Government, OBORONPROM consolidated its engine-building enterprises into the UEC holding. In 2009-2010, with the aim of centralizing management functions, UEC Management Company became the managing company for all companies within the group. This enabled the company to implement unified policies on production, marketing, sales and servicing, as a result of which it achieved growth in sales of finished products.

Since the engine-building holding was established, a new development strategy has been confirmed and put in place, a new management structure has been created, and new forms of business organization are being implemented. The current changes in the UEC MC management system are due to the company’s plans for long-term development and the implementation of potential projects. UEC’s strategic goal is to strengthen its position as one of the leading players on the global gas turbine technology market.

OBORONPROM is a multi-faceted machine-building group of companies, founded in 2002. It is part of the Russian Technologies group of companies. Its primary activities are helicopter building (Russian Helicopters) and engine-building (UEC).

UEC Management Company is a subsidiary of OBORONPROM. It manages engine-building companies: Ufa Engine Industrial Association, NPP Motor, Klimov, NPO Saturn, Perm Engine Company, Aviadvigatel, Star, Kuznetsov, and the Chernyshev Moscow Engine Factory.