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05.06.2012

Perm Engine Company and Sberbank Russia sign agreement on long-term cooperation

Perm/05.06.2012 On May 31, Perm Engine Company and Western-Urals Sberbank Russia signed an agreement on long-term cooperation. The document was signed as part of the visit by Vladimir Yashin, director of working with machine building clients at Sberbank Russia, and AleksandrKamalov, first deputy chairman of Western-Urals Sberbank Russia, at the Perm Engine Company.

The agreement covers two aspects of cooperation between Sberbank and the Perm Engine Company in the area of implementing the company’s investment program. In particular, by 2020 the bank is prepared to finance projects in the amount of up to 8 billion rubles. This document also envisages the provision of a comprehensive range of accompanying banking services. For example, they include issuing mortgage credit to company employees under the Perm Engine Company’s housing program.

As part of the visit by Sberbank Russia managers, Perm Engine Company showed off its technological potential. The delegation visited the company’s assembly workshops. Visitors learned about working with the unique production complex on the base of Russia’s only electronic-laser beam unit by ALD (Germany), for applying ceramic thermo-barrier coatings to aviation engine turbine blades. The purchase of this equipment, as well as building a new building to house it, was possible thanks to financing through a federal targeted program.

AlekseyMikhalyov, Perm Engine Company managing director:

‘In 2010 the company developed a program of potential development for the Perm Engine Company called ‘Strategy 2020’. Implementing this program is essential in order to achieve the company’s strategic goals for new types of products — the fifth generation aviation engine the PD-14 and gas turbine units based on it, and the launch of another modification of the PS-90, the PS-90A3u aviation engine. These large-scale projects, of priority important for the machine-building industry in our country, can only be implemented in close partnership with the state and with strategically important financial institutions. Which of course includes Sberbank Russia. Our partnership has developed over the course of many years — we have financed long-term programs together, aimed at technical re-tooling of main production lines, and the bank provides support for the factory in financing day-to-day operations. Signing this agreement on long-term partnership proves that the goals we have set ourselves are attainable, and will be accomplished in line with plans.

AleksandrKamalov, first deputy chairman of Western-Urals Sberbank Russia:

“The Perm Engine Company is a strategically important company, hugely significant for the region, the aviation industry, and the country. Today we see a significant change in the development of our long-time partner, developing a new engine, preparing the way for a major quality breakthrough. We are happy to develop our partnership and make a contribution to these big successes.”

Further information:

Perm Engine Company (PMZ) mass produces aviation engines for civil and military applications, as well as industrial gas turbine units for power stations and gas transportation.

PMZ is a part of the United Engine Corporation, a wholly-owned subsidiary of OBORONPROM specializing in engine-building assets.

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).

Sberbank Russia holds a general license from the Bank of Russia number 1481. The official bank website is www.sberbank.ru


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