23 Oct 2009 21:22

United Aircraft Corporation buys Russian aircraft maker MiG

MOSCOW. Oct 23 (Interfax) - The United Aircraft Corporation, which consolidates Russia's aircraft-building assets, said in a report that it has bought all the shares of Russian aircraft-building corporation MiG.

Until then UAC had owned no interest in MiG.

The purchase was registered on Thursday.

MiG is a holding company that brings together the Mikoyan Experiment and Design Bureau, the Voronin Manufacturing Center, the Klimov Plant state enterprise, the Soyuz Machine-Building Design Bureau of Tushino, the Ryazan Instrument Plant, and Experiment and Design Bureau Elektroavtomatika.

MiG was a wholly state-owned enterprise until March 2009, when it became a joint stock company, with all its shares owned by the Russian government.

UAC was set up by presidential decree on February 20, 2006, and registered as a legal entity on November 20 of that year.

The state owns more than 90% of its shares.