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Russia to extend control over metal industry - Daily Times

MOSCOW: Russia plans to create a state-controlled holding company to consolidate and exercise control over key elements of the country’s metallurgy industry, Russia’s state-owned arms export company said on Friday.The holding company would buy stakes in Metal Companies, which supply to the military, aeronautical and aerospace industries, arms exporter Rosoboronexport said.“Rosoboronexport sees the formation of a metallurgical holding company under the control of the state by combining a series of key Companies in the specialised metallurgy industry,” The Company said.The Russian press said on Thursday that the first step in this process would be the acquisition of VSMPO-Avisma, the biggest titanium producer in the world.Rosoboronexport added that it had created “a joint group to co-ordinate the metallurgy sector ... fitting with its policy of consolidating activities in the military-industrial complex”. Its partner in the initiative is Russian group Aviatekhnologuia. afp

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