14:31 GMT +325 February 2018
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    Plans for new helicopter-manufacturing holding unveiled

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    ZHUKOVSKY (Moscow region), August 18 (RIA Novosti) - The creation of the Oboronprom helicopter-manufacturing holding will contribute to the development of Russia's defense potential, a senior company official said Thursday.

    Denis Manturov, Oboronprom general director, said, "The activities of the Oboronprom corporation as part of the defense industry not only help to conduct structural reforms of the strategic branches of Russia's economy, but also contribute to the development of Russia's defense potential."

    The new helicopter-manufacturing holding will be created on the basis of Oboronprom. It will comprise all companies that are involved in the development and serial production of the family of Mi helicopters.

    According to Moscow's helicopter-manufacturing plant General Director Andrei Shibitov, there are objective trends on the global market today that forced European and American companies to merge into larger corporations. These trends have affected Russia as well, he said.

    "The creation of a new holding is an attempt to consolidate and integrate our efforts to produce helicopters of the Mi family. It is aimed at increasing the competitiveness of our companies on the global market and reducing production costs on the domestic market," Shibitov said. "Our plant will coordinate the development, production, and marketing of the Mi family."

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