19 September 2002 02:08
Business in Brief: Irkutsk Name Change
MOSCOW -- The Irkutsk Aircraft-Building Corp., or IAPO, will change its name to Irkut Research and Production Corp.,
Interfax reported company president Alexei Fyodorov as saying Wednesday.
The decision to change the company name will be made at the next shareholders' meeting, which is set for the end
of the year, Fyodorov said at a news conference. The meeting will also amend the company's charter, he said.
Irkut will be IAPO's legal successor and will preserve the status of a legal entity based in Irkutsk.
The company's strategy is to establish a holding company based on IAPO that will incorporate project
organizations, tool-building enterprises and plants to manufacture civilian and defense equipment, Fyodorov said.
IAPO's sales are expected to reach $500 million this year, he said. The company's earnings amounted to 6.74
billion rubles ($213 million) last year.
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