10:01 19.12.2017

Ukroboronprom plans to complete audit and stage-by-stage restructuring by 2020

Ukroboronprom plans to complete audit and stage-by-stage restructuring by 2020

Ukroboronprom State Concern intends to complete stage-by-stage restructuring, including audit, envisaged by the announced strategy of reforming the defense industry complex of Ukraine, by 2020, the press service of the state concern has reported, with reference to Ukroboronprom Deputy Director Denys Hurak.

"In autumn Ukroboronprom began the procedure of international audit. This is the first step towards the global transformation of the concern, envisaged by the strategy of reforming Ukroboronprom in accordance with the best international practices," the report said.

"The audit will consist of four stages: the development of a strategy, financial audit, legal audit, the implementation of restructuring and corporatization processes," the expert said.

According to him, during the reform it is planned to separate the non-core assets of state-owned enterprises from the core ones.

"[Then it is planned] to corporatize the latter and consolidate them into joint-stock holding companies by type of activity in accordance with the distribution of five clusters - armored, aerospace, naval, precision weapons and ammunition, special instrumentation," he explained.

"To implement this project, we are striving to attract the best specialists. Ukroboronprom has already announced a tender for conducting an international audit on ProZorro," Hurak said.

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