16:56 10.01.2018

Motor Sich officially announces loss of control over assets of Snizhne plant in ORDLO

Motor Sich officially announces loss of control over assets of Snizhne plant in ORDLO

PJSC Motor Sich (Zaporizhia) has issued an official announcement about the loss of control over the assets of the Snizne Machine-Building Plant, which is the part of the company and is located in the area of Donetsk region beyond Ukrainian government control.

"The public joint-stock company Motor Sich has announced the loss of control since 20.12.2017 over the management of assets of its separate unit – Snizhne Machine Building Plant, which is located on the territory of Donetsk region temporarily uncontrolled by Ukraine," Motor Sich said in a statement on the company's website.

"In this regard, the board of directors of the company reported to the relevant government agencies about the temporary loss of control. The management of the joint-stock company is taking steps to ensure the safety of the assets of this enterprise," the report says.

The Motor Sich management told Interfax-Ukraine, the loss of control over the Snizhne Machine Building Plant, the loss of control over the assets will 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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