Sukhoi and MiG companies merged with the United Aircraft Corporation (UAC), a member of the Rostec state corporation, the press service of UAC said on Wednesday.
Russia has completed the long-running merger of Sukhoi and MiG, combining them into one company under United Aircraft Corporation (UAC). MiG has been a brand problems for Russia since Algerian corruption scandal.
“The implemented restructuring ends an important stage in the corporate transformation of UAC, which implies in particular the transition from the three-tier to the two-tier governance system in the corporation.
“Relevant records were made on June 1 in the United State Register of Legal Entities,” the press service said. “The UAC Board of Directors approved the merger in November 2021 and shareholders of three companies supported it in January 2022,” it added.
“Sukhoi and MiG brands, strong and known worldwide, will remain in produced aircraft and reputed designer schools will continue developing,” Rostec CEO Sergey Chemezov said in a comment.
Following the collapse of the Soviet Union, the bureaus were reorganized into companies. While Sukhoi eventually regained its prominence, designing a wide variety of combat aircraft based on the Soviet-era Su-27 platform, MiG was not as successful, with the MiG-35, a further development of the MiG-29, struggling to attract orders.
The last major contract for Mikoyan came from Egypt and India four years ago. Mikoyan has been struggling to find buyers for Soviet-era MiG-29 fighter jets. Malaysia, Bangladesh, Argentina, India and Armenia cancelled negotiations with Rosoboronexport to procure MiG-29.
The merger between Sukhoi and Mikoyan is a strategic decision to protect Mikoyan Design Bureau from bankruptcy.
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