Kyiv, November 15, 2023

The Asset Recovery and Management Agency (ARMA) has transferred 100% of the corporate rights of one of the aircraft plants to “Motor Sich” JSC.

The relevant management agreement was signed on Wednesday, November 15.

At ARMA's initiative, a resolution of the Cabinet of Ministers of Ukraine was approved and the plant was transferred to the Ministry of Defence of Ukraine.

The name of the facility is not disclosed for security reasons.

“The transfer of these corporate rights from ARMA to “Motor Sich” JSC is a story of the inevitable economic responsibility of Viacheslav BOGUSLAEV, the owner of the aircraft plant and a person charged with collaboration, aiding the aggressor state and assisting a terrorist organization, – commented the Head of ARMA Olena DUMA. –Establishing control over the aircraft plant’s corporate rights will ensure its uninterrupted operation, improve the quality of the company’s management and allow both enterprises to work for the defense sector of Ukraine before and after the victory over our enemy”.

The facility has historically worked closely with “Motor Sich” JSC, performing major overhauls and modernizing engines for helicopters.

In turn, “Motor Sich” JSC, alienated by the state, performs important tasks to strengthen the country’s defense capabilities.

ARMA once again emphasizes that strategically important enterprises should work for the benefit of the state and generate revenues for its budget.