According to him, the Elektromashina holding company was instituted in January 2004 by the presidential decree.
"This is the fist signs in the creation of an armoured vehicles holding company which will be one of biggest in the number of its member-enterprises, about 30," said Nozdrachev.
Taking into consideration the scale of the company, he said, it has been decided "to build it part by part." According to Nozdrachev, in order to create an armoured vehicles holding company it is planned to unite the defence enterprises in Saint Petersburg and in the Sverdlovsk and Chelyabinsk Regions (the Ural Federal District).
The director general said that in the initial variant it was planned to create eight integrated structures, that is, holding companies which would put out products according to their specialisation. However, he continued, presently, the reforming programme is being revised and, most likely, one more, the ninth, holding company will be created.
Alexander Nozdrachev said that the inter-departmental commission had approved the composition and the structure of four holding companies, including "Small Arms and Cartridges," "High Precision Arms" and "Optical Electronic Systems."