The enterprise will be returned to state ownership soon.
Motor Sich is to be nationalized soon / Photo from UNIAN
Ukraine’s National Security and Defense Council (NSDC) has decided on the nationalization of PJSC Motor Sich.
The decision was taken at an NSDC meeting on March 11, NSDC Secretary Oleksiy Danilov said at a briefing following the gathering.
“The point at issue is Zaporizhia-based Motor Sich enterprise. The respective decision has been made today. According to this decision, the Motor Sich enterprise will be returned to the Ukrainian people, it will be soon returned to the ownership of the Ukrainian state in a lawful, constitutional way,” he said.
About Motor Sich
- Zaporizhia-based Motor Sich enterprise develops, manufactures, repairs, and provides maintenance of gas turbine engines for aircraft and helicopters, as well as industrial gas turbine units.
- It was founded in 1907 and originally manufactured farming equipment. In 1916, it released its first piston engine.
(c)UNIAN 2021
Maybe this solution is not ideal but it is a far better one than selling it to the bat viruses.
I am not a huge fan of nationalization but Motor Sich is a critical resource for Ukraine. With out it there will be no aviation industry. So I am glade Ukraine moved to protect this company and not leave it in control of unscrupulous Kleptocrats.
The management of MS has continuously acted in their own interest at the expense of Ukraine. often times selling critical parts to Russia and at one point planning to move their plant to Belarus to by pass sanctions on Russia.
I wish the government had simply just said no to any sale of the company as the US does. Can you imagine China trying to buy Lockheed Martin? Which they would do in a New York minuet no matter what the cost.