The market value of the handed over shares is estimated at RUB 432 million
State Corporation Rostec has handed over ownership of 100-pct stock of Feodosia Shipbuilding Plant “Morye” to United Shipbuilding Corporation (USC). The agreement was signed on 14 March 2022. The market value of the shares handed over for free is estimated at RUB 432 million, says USC.
The company had been a part of Rostec from 2018. The principal decision on the transfer of the shipyard to USC was made in 2021.
“Morye” is a company with unique competence and expertise in construction of high-speed vessels. Once among the largest soviet shipyards, it went through hard times with sporadic orders after the collapse of the USSR. After the reunification of the Crimea with Russia and transfer of the company to Rostec the state set a task of supporting the enterprises. We have fulfilled it having managed to keep the asset afloat and prevent its closure. Free transfer of the shares to United Shipbuilding Corporation will let continue the modernization and development of the production facilities,” said Vladimir Artyakovm First Deputy to General Director of Rostec.
“Morye” will become an essential element of the shipbuilding cluster USC is developing in Crimea, - said USC General Director Aleksey Rakhmanov. – It is important that the company and the team has been preserved, for which Rostec should be thanked sincerely. It is the moment now for the shipyard to join a large family of United Shipbuilding Corporation, to begin mastering its production processes. The future of “Morye” is in the promising segment of building ships of composite materials and aluminum. Besides, the shipyard can be awarded with state defense orders, primarily Rank 3 and 4 ships.”
A shipbuilding plant was established in Feodosia in 1938 but its construction was suspended during the Great Patriotic War. In 1947, the shipyard was reorganized to produce torpedo boats of light alloys. In 1959, the shipyard started manufacturing and exporting civilian products including seagoing and river going passenger hydrofoils. From 1983, the shipyard was building air-cushion landing craft of Project 12322 Zubr. In the USSR time, it was among the largest shipyards numbering up to 16,000 employees.
In 2014, the shipyard was nationalized after the reunification of the Crimea with Russia. In 2015, FSUE Shipbuilding Plant “Morye” was set up on its base. In 2017, an on-site meeting of RF Government was held at the shipyard following which a presidential order was issued to reorganize the federal state unitary enterprise into a joint stock company and include it into State Corporation Rostec.
Photos from USC website
