UMPO may conclude a loan deal worth 12.4 billion rubles with VTB

UFA, 19 December 2014. /Bashinform News Agency, Elvira Latypova/. JSC "Ufa Engine Industrial Association" (UMPO) may enter into a loan deal with VTB Bank in the amount of 12.4 billion rubles. The Board of Directors of UMPO submitted the transaction for consideration at a meeting of shareholders, according to UMPO. Details of the deal are not disclosed.

The Board of Directors recommended that shareholders approve related party transactions - documentary operations between UMPO and the "VTB" Bank in the amount of not more than 1.3 billion rubles.

JSC "Ufa Engine Industrial Association" is the Russian largest manufacturer of aircraft engines. It is engaged in development, manufacturing, service and repair of turbojet engines and pumping units, production and repair of helicopters units. It is included in the United Engine Corporation (UEC) — a wholly owned subsidiary of JSC OPK "Oboronprom" on engine assets management.