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Rostec
Rostec ((ロシア語:Ростех) - ''Rostekh''), formerly Rostekhnologii ((ロシア語:Ростехнологии)) is a Russian state corporation (a non-profit entity type) established in late 2007 to promote development, production and export of hi-tech industrial products for civil and defense sectors. It brings together 663 entities which form 13 holding companies.〔("РОСТЕХНОЛОГИИ" СОКРАТЯТ ЧИСЛО ХОЛДИНГОВ ДО 13 С 17 )〕 Eight holding companies operate in the defense-industry complex and five of them are involved in civil sectors.〔(8 military-industrial and 5 civil industry holdings © )〕 Rostec’s organizations are located in 60 constituents of the Russian Federation and supply goods to over 70 countries worldwide.〔(supply their products to over 70 countries worldwide © )〕
Rostekhnologii was founded in 2007 as so called "state corporation", a very special type of legal entity in Russia. The state corporation is established by equity contribution made by the Russian Federation. The organization is headed by Sergey Chemezov.〔(the director general of Russian Technologies Co., Sergey Chemezov © )〕 Its headquarters are located in Moscow.
Full name in the Russian language is ''Государственная корпорация по содействию разработке, производству и экспорту высокотехнологичной промышленной продукции «Ростехнологии»''. Short name in the Russian language is ''Госкорпорация Ростех''. Full name in the English language is ''State Corporation for Assistance to Development, Production and Export of Advanced Technology Industrial Product «Russian Technologies» (Rostec)''. Short name in the English language is ''State Corporation Rostec''. ''Rostec'' was known as ''Rostekhnologii'' until December 2012.
==History==
On November 23, 2007, President Vladimir Putin endorsed the federal law〔http://www.utu.fi/fi/yksikot/tse/yksikot/PEI/raportit-ja-tietopaketit/Documents/Vahtra_netti_final.pdf〕〔http://en.ria.ru/analysis/20080624/111933773.html〕 to establish Rostekhnologii, a state corporation, passed by the State Duma on November 9.〔http://cis-legislation.com/document.fwx?rgn=19911〕〔http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapid=45602288〕 The state contributed 437 entities to the corporation’s capital.〔http://archive.premier.gov.ru/eng/premier/press/ru/4406/〕 Their total loss was RUR630 billion; 30% of such enterprises were in pre-crisis and crisis condition, 28 entities in bankruptcy proceedings, 17 had no business operations, and 27 had lost part of their assets or faced a material risk of such loss. Executives of some companies included in Rostec were in conflict with each other.〔http://www.kommersant.ru/doc/2082651〕 At the time Rosoboronprom, a company eventually merged with Rostechnologii, acquired the controlling interest in VSMPO-AVISMA in 2006, the on-going conflict between the shareholders exposed it to crisis. In October 2005, the Federal Financial Market Service (FFMS) suspended trades in common shares on the RTS Exchange and MICEX.〔http://www.kommersant.ru/doc/617897〕
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