The Ministry of Industry and Trade transferred the “Eastern Shipyard” to USC – Kommersant
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The Amur Shipyard (ASZ), part of the United Shipbuilding Corporation (USC), became the sole owner of Vostochnaya Verf JSC on August 31, 2023, reported press service USC. This is the first asset transferred to the management of USC after the corporation came under the management of VTB in August 2023.
JSC “Vostochnaya Verf” is a shipbuilding enterprise founded in 1952, located in Vladivostok. In 1994, the plant was transformed into a joint stock company. From the 1950s to the 2000s, the company built more than 400 ships for the Navy, border forces and fishing organizations. More than 30 units of military equipment from this enterprise were exported to eight countries, including Vietnam, Iraq and China.
The press release clarifies that the Ministry of Industry and Trade suspended the rights of Vostochnaya Verf shareholders and the powers of its management bodies before transferring the company to USC. It is reported that ASZ will exercise the powers of the meeting of shareholders or the board of directors of Vostochnaya Shipyard in order to timely fulfill the state defense order.
Previously, the main shareholder of Vostochnaya Verf was former deputy of the Primorye Legislative Assembly Gennady Lazarev. In October 2022, “Eastern Shipyard” sent to arbitration an application for declaring her bankrupt. In November 2022, Minister of Industry and Trade of Primorye Sergei Kalitin statedthat USC is showing interest in the Eastern Shipyard.
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