USC boosts its stake in Severnaya Verf to 96.78%
State-owned United Shipbuilding Corporation (USC) has purchased a 75-percent stake of Severnaya Verf Shipyard’s pledged shares during second auction held on September 6, 2012, the Corporation said on Thursday.
Suggested opening bid of the stake was RUB 12,325 million. Overall, the stake of 112,082 shares was sold for RUB 12,448,250,000.00.
Now, USC has increased its stake in Severnaya Verf Shipyard to 96.78%, of which 75.82% is in ownership of JSC United Shipbuilding Corporation, and 20.96% of shares belongs to its subsidiary Western Shipbuilding Center.
Russian United Shipbuilding Corporation, established in 2007 as a 100-percent state-owned company, has become the largest shipbuilding group consolidating nearly 80% of the country’s shipbuilding industry. Today, USC with three subsidiaries (St. Petersburg-based Western Shipbuilding Center, the Northern Shipbuilding and Maintenance Center in Severodvinsk, the Far Eastern Shipbuilding and Maintenance Center in Vladivostok) incorporates about 60 shipbuilding companies, naval architecture and marine engineering firms. The Corporation executes shipbuilding orders for the Russian market and exports its products to 20 countries.
St. Petersburg-based Severnaya Verf (Northern Shipyard) is a leading shipbuilding company of the Russian defense industry. The firm has been part of Moscow-headquartered United Industrial Corporation since 2004. The shipyard specializes in building cruisers, destroyers, minesweepers, patrol vessels and antisubmarine, research and passenger vessels, timber cargo carriers, trawlers, container ships and Ro-Ro vessels for the Russian Defense Ministry and foreign customers.