11 Mar 16. Russia In Talks with Arab Foundation Mubadala On Selling Stake In Russian Helicopters. Russian state corporation Rostec and officials of the government are in talks with the Mubadala foundation from the United Arab Emirates about selling the stake in the Russian Helicopters, head of Rostec Sergey Chemezov told TASS. The Russian Helicopters company is part of state hi-tech corporation Rostec.
“We held talks with Mubadala. Recently Industry and Trade Minister Denis Manturov was on a business trip in the UAE, met them and discussed this topic,” Chemezov said. Earlier Chemezov told TASS that Rostec plans to sell a 49% stake in Russian Helicopters.
The corporation plans to maintain the control over the company after the sale of the stake. Earlier this month, Industry and Trade Minister Denis Manturov said that the stake may be sold already this year. According to him, Rostec plans either to the whole stake to a strategic investor in Russia or to sell 25% to a foreign investor. According to Chemezov, the Russian Direct Investments Fund (RDIF), which is a partner of Mubadala, may take part in the deal. In June 2013, RDIF and Mubadala set up a joint fund worth $2 bln, which has already invested in 13 companies sand projects. Russian Helicopters is the sole Russian rotorcraft designer and manufacturer with the capability to design, manufacture, service and test modern civilian and military helicopters. The company includes design bureaus, helicopter assembly plants, components production, maintenance and repair enterprises, aircraft repair plants, and helicopter service companies providing after-sales support in Russia and abroad. The company accounts for about 35% and 50% of the global market of combat and medium military transport helicopters. UAE is a large export market for Russian armaments. Over the last ten years the volume of exports exceeded $1bn.
(Source: defence-aerosapce.com/TASS Defense)
10 Mar 16. Canada’s F-35 Decision Anxiously Awaited, Says U.S. Deputy Secretary of Defence. The U.S. deputy secretary of defence says he’d like the Canadian government to make up its mind, one way or the other, whether it will replace its aging CF-18 fleet with Lockheed Martin’s F-35 fighter jets.
“Because Canada has been a partner in the F-35 program, if they withdraw — I think it’s 65 airplanes — the price for all the other members in the coalition goes up slightly,” said Robert Work, in an interview with Rosemary Barton, host of CBC News Network’s Power & Politics.
The Conservative government had planned to acquire 65 F-35 stealth fighter jets for the Royal Canadian Air Force, but the procurement process was put on hold after the auditor general accused the government of fudging the project’s costs and not doing sufficient research. One of the new Liberal government’s main campaign pledges was to buy a less-expensive aircraft and plow the savings into the navy. However, since taking office, Canada’s Minister of Public Services and Procurement Judy Foote has said Lockheed Martin’s F-35 fighter jets may still be in the mix to replace Canada’s CF-18s. Most costly weapons program in U.S. history
“It’s important for Canada to make the decision on the aircraft that they need for their national interest, and then the United States and Canada can work it out,” said Work.
Work said he doesn’t think the Canadian government is dragging its feet, but the U.S. is watching closely.
“I work in the Pentagon, so I measure time different ways than other people, so I don’t believe it’s been long. These are very important political decisions and defence decisions for Canada to make, and we’re not trying to pressure them in any way,” said Work in an interview at the Pentagon.
“We’d like to know, we’re anxious to know, where exactly will you go so we can start to plan together. But these types of decisions are made in due course and we’re looking forward to the final decision.” (defence-aerosapce.com EDITOR’S NOTE: “The chief