100% minus one share of Kronshtadt Shipyard is now in the authorized capital of USC (photo)

Authorized capital of United Shipbuilding Corporation (USC JSC) has been expanded with the shares of Kronshtadt Shipyard, USC says.

On April 8, 2016, pursuant to the Presidential Decree dated 21.03.2007 (No 394) On Open Joint Stock Company United Shipbuilding Corporation, 100% minus one share of Kronshtadt Shipyard held by the Russian Federation represented by the Ministry of Defence were handed over to the authorized capital of USC.

Kronshtadt Shipyard (corporate member of United Shipbuilding Corporation) is the largest ship repairing yard in the North-West Region of Russia. Established in 1858. Able to repair and service ships of different types and classes of up to 60,000 t in displacement. The shipyard can also repair diesel engines, gas and steam turbines.