Western Center of Shipbuilding completes corporatization of shipyards

Western Center of Shipbuilding (WCS OJSC) has completed corporatization of federal unitary enterprises being integrated into WCS, the company’s press center reports.

WCS experts jointly with St. Petersburg City Property Management Committee and local RosImushchestvo authorities of the Kaliningrad Region have completed all necessary procedures within a year and a half.

Now all enterprises being integrated into WCS (Admiralty Shipyards (St. Petersburg); Sredne-Nevsky Shipyard (St. Petersburg); 33th Ship Repair Plant of the MoD (Kaliningrad region); Svetlovskoje enterprise ERA (Kaliningrad region)) are open joint stock companies. As soon as the market value of companies’ securities is determined, 100% (minus 1 share) of the shipyards’ shares will transfer to Western Center of Shipbuilding.