OREANDA-NEWS. On 1 February 2008 the Sverdlovsky reg. adminsitration developed the terms of Uralvagonzavod privatization.

The Plant will be restructured into Scientific Production Corp.

Uralvagonzavod Dzerzhinsky. The share capital will be worth 14.287bn rub. split in 14286796 common stocks of 1ths rub. par each. Besides, the property and objects list has been affirmed along with the articles and BOD membership.

After the registration of the Company it should be included into the list of strategic entities.

Uralvagonzavod is an engineering entity and basic supplier of different modifications of tanks for the Army. It covers 35% of the Russian tank production market and 57% of gondola market.

The formation of Uralvagonzavod Corp. will permit to reach 335bn rub. in the output. The tax payment is assumed to be raised 2.5 fold to 30bn rub./y.