"State funding is greater than the sums invested by developers"

Russia’s United Engine Corporation (UEC) is continuing with its restructuring plan; the management aims to submit a follow-up development strategy to the parent structure Rostec by year-end. UEC general director Vladislav Masalov sat down with Show Observer to discuss the interim results of his company’s on-going reform drive.

— What is the current status of the UEC reorganization process? Are there any more major changes in the pipeline?

— The process is not completed yet. When we started on the reforms, I identified a number of primary units and production processes that required particularly swift organizational decisions. These decisions have already been adopted and implemented. However, transformations will continue. We are working with the Russian consultancy Strategy Partners Group to carve out our further strategy, aiming to submit a draft to Rostec’s supervisory board by late 2013. If we happen across any new ideas as this partnership progresses, including ideas related to possible transformation of our divisional structure, we will consider those as well.