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Shares of JSC Severnaya Verf (St. Petersburg) have not been transferred under control of the Central Bank of the Russian Federation so far, reports PortNews referring to an informed source. According to him, since the stock-transfer operation has not been done yet, the shipyard's assets are still held by JSC United Industrial Corporation (UIC).
Combat Capability [42%],
Role and Missions,
Structure of the Navy,
in-service ships, surface ships, submarines, chronology.
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Source: Central Bank Does Not Control Severnaya Verf Assets
21.10.2011
It was earlier reported that the Central Bank would transfer the shipyard's shares under fiduciary management of JSC United Shipbuilding Corporation (USC).
Recall that Moscow Arbitration Court obliged UIC to transfer shares of Severnaya Verf shipyard under fiduciary management of Central Bank. This decision can be appealed in 9th Arbitration Court. Spokesman for UIC refused to answer the question whether the company would appeal the court's decision.
Shipbuilding assets of United Industrial Corporation include Baltiysky Zavod and Severnaya Verf shipyards, and Iceberg Design Bureau. UIC assets were in pawn for credits granted to Mezhprombank which was disqualified on Oct 5, 2010 and adjudicated bankrupt on Nov 30, 2010. Presently, shares of Baltiysky Zavod are handed over to Central Bank which transferred them under fiduciary management of state-led United Shipbuilding Corporation.
JSC Severnaya Verf shipyard is one of Russia's leading defense-oriented companies. Since 2004 it is a member of JSC United Industrial Corporation (Moscow). Basic product lineup of the shipyard includes surface warships and commercial vessels. The yard has wide experience in construction of cruisers, destroyers, minesweepers, ASW ships, corvettes, frigates, research vessels, passenger liners, timber carriers, trawlers, containerships, and ro-ro vessels.
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