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Antonov aircraft maker to become joint stock company

The corporatization is part of the reform of the defence industry.

Antonov aircraft maker to become joint stock company
Photo: Photo: antonov.com

The state-owned aircraft company Antonov will become a joint stock company, the press service of the Ukroboronprom State Concern said in a release on Monday, 28 November.

According to the order of the Ministry of Economic Development and Trade, subject to corporatization also are the State Enterprise 410 Civil Aviation Plant, SE Chuhuiv Repair Plant, SE General Purpose Aircraft, and the SE Production Association Karpaty.

The transformation of state-owned enterprises into joint stock companies is a part of sweeping reformin the nation's military-industrial complex, aimed to create a transparent management structures, supervisory boards and set clear rules for international investors.

In the framework of the strategy, Ukroboronprom is set to create five MIC sector clusters envisaging the involvement of private companies: aviation, armored, shipbuilding, high-precision weapons, radar and communications.

Ukraine's state railroad company Ukrzaliznytsya was corporatized in 2015.