The Board of Directors of United Shipbuilding Corporation (USC) has named Vladimir Lisin, a Russian tycoon, Chairman of the Board of Directors of JSC Novolipetsk Metallurgical Combine and scores of transport assets, as the USC Board’s Chairman, effective October 6, 2011, the USC statement said.
The decision was made at a meeting of the Corp.’s Board held on October 6, the report says. Yet, today the USC’ official website posted that Vladimir Lisin was named as an independent director. Earlier, the Corp. had dismissed the media reports of Lisin’s appointment as USC Board Chairman
United Shipbuilding Corporation is a 100-percent state-owned group of companies established by the Presidential Decree № 394 (March 21, 2007). The Corporation consists of nine engineering and design offices and 39 dockyards. The USC’s largest shipbuilding assets include Kaliningrad-based JSC Yantar Shipyard, JSC Admiralty Shipyards (St. Petersburg), JSC PA Sevmash (Severodvinsk), JSC DVZ Zvezda (Vladivostok). USC holds a 50% stake in Arctech Helsinki Shipyard, a joint venture with STX Finland Cruise Oy.
The Corporation participates in several major international projects: construction of a new mega shipyard Zvezda-DSME through a JV with Daewoo Shipbuilding & Marine Engeneering (South Korea), the construction jointly with Yantai Ruffles (Singapore) of Vostok-Ruffles Shipyard. In 2010, USC posted total revenue of RUB135 billion. Currently, USC consolidates about 70% of the domestic shipbuilding industry. The Group focuses on the Russian market, but also exports its products to 20 countries.
