UEC changes the management system of its ‘civil’ division

Aviadvigatel and Perm Engine Company (PMZ) will now be managed by NPO Saturn, part of the United Engine Corporation (UEC).

The United Engine Corporation made a decision to transfer to NPO Saturn, the parent enterprise of the division Engines for Civil Aviation authority to manage the two companies on the Perm engine building platform that are also in the division — Perm Engine Company and Aviadvigatel. This procedure was approved at extraordinary meetings of shareholders of PMZ and Aviadvigatel, held on January 9 and 11, respectively. However, UEC remains the sole executive body for NPO Saturn.

“This transfer of responsibility is a part of the formation of the Engines for Civil Aviation division. In addition to holding extraordinary meetings of shareholders at the companies, we also got approval from the Federal Anti-Monopoly Service to transfer control to the sole executive body Saturn. We believe that most of the corporate events have already taken place. We already have positive examples of factories working on this configuration: the Chernyshev Moscow plant, which joined the Engines for Military Aviation division and is currently being managed by UMPO, has successfully fulfilled its 2012 production program although in previous years it fell behind significantly,” said UEC general director Vladislav Masalov.

Saturn will legally take on ownership of PMZ and Aviadvigatel from February 1, 2013.