Rostec commented about the closure of factories GTC

© RIA Novosti / Ramil to Setdiscoverable in the Bank booth of the company rostec. Archival photoRostec commented about the closure of factories GTC© RIA Novosti / Ramil to Setdiscoverable the image Bank

Rostec will not close the factories of «Concern tractor plants» within the passage of the group of bankruptcy procedure under control of the state Corporation, told journalists the head of «Rosteh» Sergey Chemezov at aerospace show Dubai Airshow 2017.

«We control all processes in respect of bankruptcy, we don’t want people left without jobs, close plants – this is out of the question. The main debt to Vnesheconombank and «Rostec», so we will decide what to do with this company. It is now agreed that the GTC is transferred to the control of Rostec, we are preparing a financial recovery plan, some of the debt during bankruptcy is likely to be restructured. The experience of this financial recovery we have is a former Izhmash concern «Kalashnikov». The result, as you can see, is operating successfully», — said Chemezov.

Previously the industrial Director of the cluster «Weapons» «Rostec» Sergey Abramov said that before the end of November, the Corporation can take control of both civil and military divisions of the GTC, which is in a difficult financial position.

According to him, the rest of the month will be conducted by the relevant corporate procedure relating to the transfer of the management of enterprises, and to the end of the year plan and the roadmap will not only be approved but will be implemented.

The total accumulated financial liabilities of group companies GTC exceed 85 billion rubles. Since the end of October Vnesheconombank shall carry out the procedure of bankruptcy of the company, implementing a «default strategy», approved by the Supervisory Board of the Bank in respect of a number of assets GTC as the only way to overcome the crisis and start the recovery of production.