USC elects Denis Manturov as Chairman of its BoD (photo)

United Shipbuilding Corporation (USC) says Denis Manturov, Minister of Industry and Trade, was elected the Chairman of USC BoD at the meeting held on 17 October 2016.

The meeting of the Board of Directors discussed four main blocks of issues related to organization, personnel, execution of RF Government’s directives and approval of transactions.

The meeting also approved the composition of the Board’s ad hoc committees and the plan of operation for 2016/17 corporate year.

In execution of RF Government’s directives BoD members approved the amended programme for disposal of non-core assets of USC, the regulations on holding competitive procedures following sale of non-core assets of USC and the USC Quality Manual. 

The Board also considered the issues focused on improvement of USC operation efficiency and approved some transactions related to state defence order and civil shipbuilding.

United Shipbuilding Corporation (USC OJSC) is the largest shipbuilding company in Russia. It was set up in 2007 with 100% federal ownership. The holding comprises 60 companies and organizations (major shipbuilding and shiprepairing companies as well as leading design bureaus). Currently, USC consolidates about 80% of the domestic shipbuilding complex. The Russian market is the main focus of the state corporation though it also exports its products to 20 countries worldwide.