UMMC to Buy Czech Aircraft Manufacturer | Business | The Moscow Times:
"Ural Mining and Metallurgical Company will become the full owner of Czech aircraft manufacturer LET after putting a deal in place to buy Pamco's 49-percent stake in the company, a news report said Friday.
UMMC plans to produce annually 16 to 18 L-410 aircraft, originally designed in 1969, for Russian and foreign customers, but industry experts doubt that producing outdated aircraft has any commercial potential, Kommersant said.
Head of UMMC's special legal projects department Timur Azerny on Thursday confirmed plans to increase the company's stake in the aircraft manufacturer from 51 to 100 percent."
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