2020 October 22 11:11

Russian President Vladimir Putin signs order on merging Sevmorzavod into USC

The Order comes into effect on the day of its signing

Russian President Vladimir Putin signed an order on merging of Sevastopol Marine Plant named after Sergo Ordzhonikidze into United Shipbuilding Corporation. Order dated 21.10.2020 (No 635) “On some issues of the joint stock company “United Shipbuilding Corporation” has been published on the internet portal for legal information.

“To accept the proposal of the Government of the Russian Federation on converting ... Sevastopol Marine Plant named after Sergo Ordzhonikidze (the city of Sevastopol) into a joint stock company with 100-pct of federal ownership for further contribution of 100% of shares into the authorised capital of United Shipbuilding Corporation (the city of Saint-Petersburg) as a payment for the additionally issued shares in the framework of the company’s authorized capital increase”, says the document.

RF Government is instructed to ensure implementation of the required activities with 18 months.

The Order comes into effect on the day of its signing.

As it was reported earlier, United Shipbuilding Corporation (USC) is completing the conversion of FSUE Sevmorzavod and FSUE 13th Black Sea Fleet Repair Plant into joint-stock companies. When speaking with Minister of Industry and Trade Denis Manturov on 31 August 2020, Acting Governor of Sevastopol Mikhail Razvozhayev said USC is creating a shipbuilding and ship repair cluster.

FSUE Sevastopol Marine Plant named after Sergo Ordzhonikidze (Sevmorzavod shipyard) is located in Sevastopol. Its key activity is ship repair, mostly dock repair of ships and floating facilities in the interest of RF Navy and Borser Service of FSB.

By the order of the Ministry of Industry and Trade dated 30.08.2017 (No 2973), United Shipbuilding Corporation (USC JSC) was defined as the strategic partner responsible for integration of the company into the military industrial complex of the Russian Federation.

The merger of Sevmorzavod into USC is driven by the need of efficient involvement of ship repair facilities of the Southern Federal District and pursuance of a common industrial policy to ensure operational readiness of the Black Sea naval forces.

The document in Russian is available here >>>>

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Sevmorzavod and 13th Black Sea Fleet Repair Plant to be converted into joint-stock companies>>>>