Historic Notes

The United Industrial Corporation OBORONPROM was set up in 2002 as a closely held stock company (ZAO) owned 50-50 by FGUP Rosoboronexport, the authorized Russian arms exports intermediary, and FGUP State Investment Corporation (Gosinkor). After Gosinkor was abolished in 2003 its stake in OBORONPROM was inherited by the Federal Agency for Federal Assets Management (later renamed into the Federal Agency for State Assets Management). OBORONPROM itself was restructured into a public joint-stock company (OAO).

Consolidation of the Russian helicopter industry under OBORONPROM began with a November 29, 2004 presidential decree giving the corporation ownership of the state-owned stakes in several companies involved in the development and mass production of Mi helicopters. The stakes had previously belonged to the state, the Republic of Tatarstan and Rosoboroneхport.

In 2005 OBORONPROM acquired from AFK Sistema a 100-per-cent stake in OAO Kamov Holding, whose main asset was a 49.46-per-cent stake in OAO Kamov.

On August 11, 2007 the Russian president signed a decree transferring to OBORONPROM all state-owned stakes in companies involved in the manufacturing of Kamov-designed helicopters.

Under another decree signed on April 16, 2008, OBORONPROM became the owner of a 49-per-cent stake in OAO Kamov and a 3.9-per cent stake in OAO Rostvertol, which had previously belonged to the state.

As part of the ongoing efforts to improve the corporate management system, in December 2006 OBORONPROM set up a fully-owned subsidiary called Vertolety Rossii (Russian Helicopters). In 2007-2009 the management of all OBORONPROM assets in the helicopter industry was transferred to the new subsidiary.

In 2010 all the remaining stakes in the Russian helicopter manufacturers owned by OBORONPROM were transferred to Vertolety Rossii through new shares emission.

An April 16, 2008 presidential decree designated OBORONPROM as the umbrella corporation for the Russian aircraft engine makers.

As part of corporate restructuring in 2008-2010 OBORONPROM became the owner of controlling stakes in the main Russian aircraft engine makers, consolidating over 80 per cent of the industry’s assets.

In December 2007 OBORONPROM set up a fully-owned subsidiary called United Engine Corporation (ODK) to manage its aircraft engine assets.