UMMC now owns 100% of the shares of Aircraft Industries

21.11.2013 — News

SVERDLOVSK REGION

The Ural Mining and Metallurgical Company has purchased a 49% stake in the Czech aircraft manufacturer, thus becoming its sole owner.

UMMC's general director, Andrei Kozitsyn, explained that all the legal issues had been settled with the former owners of that block of shares. Work will begin very soon to create a new program of investments at Aircraft Industries. The company produces the L-410 light passenger airplane, which UMMC intends to first begin selling in Russia.

UMMC’s press office told RusBusinessNews that UMMC bought the first block of shares, a 51% stake in Aircraft Industries, from the Czech holding company Pamco in the summer of 2008.