Ukroboronprom presents strategy of transformation into seven industry holdings to deputy PM.

The team of the Ukroboronprom state concern has presented a comprehensive strategy for the transformation and development of the concern until 2030, which involves the reorganization of 60 enterprises of the concern into seven branch holdings: aircraft repair, armored vehicles, precision weapons, ammunition and special chemistry, radar systems, marine systems and special export, to the Deputy Prime Minister, Minister for Strategic Industries Oleh Urusky.

"The coordination of the strategy with the Ministry of Strategic Industries is an important step for the transformation of Ukroboronprom into a qualitatively new holding company - Defense Systems of Ukraine," the state concern said in a press release, citing First Deputy Director General Roman Bondar.

According to him, the strategy rests on four pillars: improving product quality, attracting engineering talent and raising social standards; seeking investments and setting up joint ventures; development of new technologies and development of new competitive product platforms to stimulate exports. The document describes the target model of a new defense holding company with the functions of a financial and corporate center for the management of industry associations.

The transformation concept, according to the company's charter, must be approved by the supervisory board of the concern, after which it will be submitted for consideration and final approval by the Cabinet of Ministers.

Ukroboronprom recalled that initially in May it proposed to reorganize 50 enterprises and unite 38 members of the concern, which account for 88% of the income, into six holdings, and said that the proposed concept takes into account all the comments and proposals of Urusky received during July-September of the current year.

"The rest of the enterprises will be transferred to the management of other bodies, in particular, to the State Property Fund," the press service said. According to the release, it is also proposed not to include some of the concern's aircraft manufacturing enterprises, which should go to independent associations in the aerospace industry, in the future defense holding. A number of enterprises, including the concern, are proposed to be liquidated in the process of transformation.

The final list of enterprises subject to reorganization must be approved by the supervisory board and the Ministry of Strategic Industries.

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