13:04 12.01.2018

Motor Sich transfers management rights of Snizhne Machine-Building Plant to foreign company

Motor Sich transfers management rights of Snizhne Machine-Building Plant to foreign company

PJSC Motor Sich (Zaporizhia) has transferred management rights of its Snizhne Machine-Building Plant (SMBP), part of the company located in the area of Donetsk region beyond Ukrainian government control, to a foreign company, the Prague-based U.S.-government funded Radio Free Liberty/Radio Europe's (RFE/RL) Donbas.Realii bureau has said, citing Motor Sich's Honorary President and Member of Ukrainian Parliament Viacheslav Bohuslaev.

"Assets of the plant remain ours. These are management not property rights. We transferred management of the plant to another company," Bohuslaev said, according to RFE/RL.

Bohuslaev said Motor Sich cannot work at SMBP under Ukrainian laws and therefore hired a company to manage the plant.

"The plant remains fully subordinated to Motor Sich… We purchase what the plant produces, but not over the so-called 'demarcation line.' Our government forbids this, so we will purchase SMBP's products in another country," he said, without elaborating the country of jurisdiction of the managing company.

As earlier reported, Motor Sich in late 2017 issued an official announcement about the loss of control over the assets of the Snizhne Machine-Building Plant, which is the part of the company and is located in the area of Donetsk region beyond Ukrainian government control.

Motor Sich management then told Interfax-Ukraine, the loss of control over the Snizhne Machine Building Plant, the loss of control over the assets would not affect the cooperation and production plans of the enterprise in any way.

"Taking into account that the plant is located on a temporarily uncontrolled territory, since 2014 or even earlier we've been working on organizing the manufacturing of the Snizhne Machine Building Plant's products at the Motor Sich facilities. To date, this task has been accomplished," the agency's interlocutor said.

Snizhne Machine Building Plant is a specialized enterprise for the production of blades and disks for gas turbine engines. As part of Motor Sich, the enterprise is engaged in the production of 55 types and modifications of aircraft engines.

PJSC Motor Sich is one of the world's largest manufacturers of engines for aircraft, as well as industrial gas turbines. It delivers products to more than 100 countries.

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