News

10.11.2009

OJSC “Perm Engine Company” received state guarantees

Late October in Moscow there was a meeting of the Interdepartmental Commission to support the strategic enterprises and companies of the defense industrial complex chaired by Deputy Minister of Finance of the Russian Federation, A.G.Siluanov.   

One of the issues discussed at the meeting was devoted to the state guarantee support provision to OJSC "Perm Engine Company". It was decided to render state support to OJSC PMZ by securing the credits according to the regulations adopted by The RF Government Order № 104 dated February 14, 2009. The credit amount secured by the state guarantee totals 2 484,5 mln.rub. In addition it was decided to provide to PMZ the subsidies in the amount of 249.94 mln.rub to cover interest rates under the Russian bank loans as per regulations adopted by the RF Government Order № 255 dated March 26, 2009.

At present the Government Order to provide state support to OJSC "PMZ" is being coordinated by certain ministerial departments and authorities.

Mikhail Dicheskul, Chief Executive Officer of OJSC "Perm Engine Company":

- OJSC "PMZ" is complying with all conditions and requirements set forth by the RF Government for the strategic enterprises. As part of the development strategy of "United Engine Building Corporation" PMZ has established and maintains turnaround programs, production efficiency improvement programs, the program of innovation-based development including measures aimed at energy efficiency improvement, new product design and market launch, strong efforts are undertaken to ensure transparency of the company financial and economic operations.

At present all credit lines opened for OJSC PMZ by OJSC Savings Bank (Sberbank) are secured by the state guarantees.

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OJSC Perm Engine Company is a serial manufacturer of aircraft engines for civil and military application and gas turbines for power generation and gas transport

OJSC Perm Engine Company OJSC "Perm Engine Company" is included into "United Engine Building Corporation"(UEC) - 100% specialized subsidiary company of OJSC "UIC "OBORONPROM" for engine building companies assets management. 

OJSC "UIC "OBORONPROM" - a multi-profile machine-building group was founded in 2002. It is included into the State Company "Russian Technologies". The primary businesses: helicopter building (OJSC "Russian Helicopters), engine building (MC "UEC" ) and others. The corporation revenue in 2008 exceeded 100 bln.rub.