Ukroboronprom told what will change for the concern after its transformation

According to the press secretary of Ukroboronprom, this is not about “changing the sign”, but about changing the “rules of the game”.

On March 21, 2023, the Cabinet of Ministers formed a joint-stock company

The transformation of the state concern “Ukroboronprom” into a joint-stock company “Ukrainian Defense Industry” will open up new prospects for the domestic defense industry.

This was announced on the air of the informational telethon by the press secretary of Ukroboronprom, Natalya Sad.

“This is not about changing the sign, this is about changing the rules of the game, which will be clear to our shareholders – and the 100% shareholder of our transformed concern will be the Cabinet of Ministers – and for investors, for everyone with whom we cooperate in the field of production, modernization and repair of weapons and military equipment. This is about changing the rules of the game to those that will be understandable and on the basis of which we will be able to cooperate very fruitfully with our allies. In addition, this is the green light for the emergence of joint ventures,” she said.

The spokeswoman also added that the process of transforming the concern provides for the introduction of corporate governance, which will be “a window of opportunity for the domestic defense industry, which Ukraine should take advantage of.”

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Transformation of Ukroboronprom

On March 21, 2023, the Cabinet of Ministers formed the Ukrainian Defense Industry Joint Stock Company by reorganizing the Ukroboronprom State Concern. The charter and regulation on the supervisory board of JSC “Ukrainian Defense Industry” were approved. 100 percent of the shares belong to the state.

It was established that the authorized capital of the company is 237 million 071 thousand hryvnias and is formed from the property of the state concern “Ukroboronprom” in accordance with Appendix 1 to the act of acceptance and transfer of property to the authorized capital of the company.

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