Page 67 - UKRRptFeb20

9.2.12 ​Other sector corporate news
Two Chinese companies have bought the majority of shares of aviation engine maker Motor Sich​, Company President Vyacheslav Boguslaev told reporters on a factory visit in the middle of December.. “I could close the plant -- I could cut down the number of employees,” Boguslaev said in Zaporizhia, according to Ukrinform. “That was the problem before me. We decided to find an investor. We were told who the investor was, we went and talked to China. The stock owners sold them through our stock exchange. And I sold my shares.” With opposition strong from Ukroboronprom and the US government, the deal is under review by Ukraine’s Antimonopoly Committee.
Zaporizhia’s Ivchenko-Progress design bureau has won a $600mn contract to supply the Turkish armed forces with 500 cruise missile engines ​through the 2020s. The Ukrainian state company will supply AI-450 turboprop engines to Turkey’s new Akinji military drone, and AI-25 turbojet engines to an unmanned fighter reports Ukraine’s defence Express news site. Last August, President Zelenskiy visited Turkey’s main unmanned aerial vehicle producer, Baykar Aerospace and defence.
German engineering giant Siemens says it will double its business in Ukraine over next three years​, Director General of Siemens Ukraine Maciej Tomasz Zielinski told Interfax Ukraine on January 24. "In the industries where we work – in energy, in the food industry, in business processes – we consider this possible with the right policy of the government of the country," he told Interfax-Ukraine on the sidelines of the Ukrainian House, organized by the Victor Pinchuk Foundation, WNISEF and Horizon Capital in Davos. Ukraine’s economy has stabilised after an economic meltdown in 2015 and international investors are beginning to move in on the back of the government’s​ ​hectic legislative programme​ launched last year. German railway operator Deutsche Bahn also signed off on an agreement to work with​ ​Ukrzaliznytsia​ (Ukrainian Railway) to develop the country’s railway system last week. Leading retail companies IKEA and Metro have also built new stores and are beginning to roll out their networks in Ukraine. Siemens is hoping to help Ukraine develop its energy system in the coming years. In addition, Zielinski pointed to the potential of Ukrainian industry due to its digital transformation. "There are not many countries that would be as good as Ukraine and have the potential for a leap," Zielinski said.
67​ UKRAINE Country Report​ February 2020 ​ ​www.intellinews.com