15 Aug 2018 10:06

UAC to cut up to 40% of space in 10 yrs, build technology parks

MOSCOW. Aug 15 (Interfax) - United Aircraft Corporation (UAC) plans to reduce its production space by up to 40% over ten years, the state holding company's president, Yury Slyusar said in an interview with Vedomosti published on Wednesday.

"Our property portfolio is oversized, it's a million-plus square meters. We need to optimize up to 40% of space in the next ten years, make our enterprises more productive," Slyusar said.

The freed-up premises will be involved in manufacturing, possibly converted to industrial parks.

"There is the positive and interesting experience of [truck maker] Kamaz , which created a technology park at freed-up capacity, the enterprises of which work successfully not only in the interests of Kamaz itself, but also for the open market," Slyusar said.

"We're exploring various scenarios for the further development of production facilities, reduction of costs at a number of enterprises by stopping upkeep of airport facilities, flight testing complexes and runways and reorienting ourselves toward aggregate production," Slyusar said.