Rostec Corporation, the Russian state hi-tech industrial development conglomerate, intends to sell off a 49% share of its polymer composites offshoot RT-KhimKompozit to a private strategic investor.
But the group made clear it will retain its majority holding in the defence, aerospace and automotive materials and parts supplier so as to keep control of key decisions and oversee the execution of state programmes and contracts.
A future strategic partner for Rostec will be expected to finance investment projects, implement new technologies and boost the subsidiary’s sales, according to Rostec. RT-KhimKompozit is said to have recorded annual turnover last year worth around €127m.
Rostec’s supervisory board recently took the decision to seek a strategic partner as part of the group’s long-term development plan for its offshoot which it wants to become a leading industrial business.
Moscow-based Rostec is reported to have set an investment programme for the subsidiary which is due to reach €438m by 2020.
The process of choosing an investment partner will involve a closed bidding procedure. Media reports put the value of a deal at between around €20.53 and €41m. The outcome is of the process expected to be known by the end of this year.
RT-KhimKompozit currently includes 10 companies and research centres specialising in development and production of plastics-based composites for technical applications in sectors such as the automotive, defence and aerospace industries.
Recently, Technologiya Research and Production Enterprise of Obninsk in Russia’s Kaluga region, which is part of RT-KhimKompozit, announced its development of a special composite coating material for military aircraft cockpit glass. It increases impact resistance and can almost double radar wave absorption reducing the plane’s radar signature, the firm is reported as indicating.
Earlier this year, RT-KhimKompozit launched a multipurpose machining centre for tooling and processing high precision products made from polymer composite and other materials at a new production site.
The new operation of ONPP Technology will enable the serial production of large-sized composite structures including for the planned Russian Irkut MS-21 passenger airliner. A high-performance five-axis unit will allow precision processing of components up to 20m and 3m width.
Late last year, RT-KhimKompozit reported it began serial production of carbon fibre reinforced components as part of a contract to supply five sets of power tail units for the MS-21 for Irkut Corporation.