Uralvagonzavod to Join Rostech Corporation

Uralvagonzavod is to become part of Rostech in the near future, the Kommersant quotes Russian Minister of Industry and Trade Denis Manturov.

Earlier Vice Prime Minister Dmitry Rogozin sent a letter to President Vladimir Putin suggesting a replacement of the Uralvagonzavod management and transfer of the company to Rostech. Vice Prime Minister was dissatisfied with Uralvagonzavod’s operation and, in particular, with its General Director Oleg Sienko. Mr. Rogozin also noted that the plant’s finances are really bad and its work on executing the state defense orders might be complicated.

Uralvagonzavod is one of Russia’s largest freight car manufacturing facilities. The company also manufactures military products; tanks, in particular.

Rostech is a state-owned corporation operating in military and civil technologies.