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Sukhoi Civil Aircraft Company facilitates the procedures leading to Alenia Aeronautica becoming a shareholder

Shareholders Annual Meeting resulted in election of two new members of Sukhoi Civil Aircraft Company Board of Directors. The new BoD entrants represent SCAC's strategic partner and future Italian shareholder – Alenia Aeronautica. Shareholders Annual Meeting also approved increase in stock capital by placing additional stock emission intended for Alenia Aeronautica.

From today on Carlo Logli, Senior Vice President, Marketing and Business development of Alenia Aeronautica and Camillo Perfido, Senior Vice President Special projects will join the work of SCAC's Board of Directors.

This partnership, said Mr. Logli, is the most important and challenging cooperation between Italy and Russia since ever, in the aerospace business programme and especially in the civil market – Alenia Aeronautica is very proud to participate actively in this programme which definitively will be the first of a long series.

Camillo Perfido has highlighted the importance of cross competencies between Sukhoi and Alenia Aeronautica in the spirit of a fruitful and successful long term collaboration.

According to the SCAC shareholders decision Sukhoi Civil Aircraft Company will issue an additional stock emission level with a nominal value of 28 mln. euro. Italian Alenia Aeronautica through its controlled company World's Wing SA will subscribe this emission pursuant to the Russian Federation Presidential Decree, authorizing Italian strategic partner or its subsidiaries to purchase 25%+1 share in SCAC stock capital.

The decision of the Annual General Meeting allow for a faster entry of Italian strategic partner into the Sukhoi Civil Aircraft Company stock capital, granting its representatives an opportunity to participate in corporate governance and strategic decision-making. Sukhoi thus demonstrates readiness for further transparency of its subsidiary – Sukhoi Civil Aircraft Company. On the other hand, the willingness of all parties to facilitate the closure of the blocking stock share purchase deal, witnesses for high level of trust towards Sukhoi Superjet 100 programme, expressed by Alenia Aeronautica and is welcome by the Italian partners, as it will allow them to focus upon their major competences within the Project – SSJ100 sales at the mature markets and worldwide after-sales support.

Press release issued by Sukhoi Civil Aircraft CJSC on May 8, 2008


 Contact details from our directory:
Sukhoi Civil Aircraft CJSC Airframer
Alenia Aermacchi SpA Airframer


 Related aircraft programs:
Sukhoi SuperJet 100

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