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Rostec wants to become one of the top five engineering companies in the world

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The head of Rostec Sergey Chemezov said that the corporation intends to enter into the five largest engineering holdings in the world on par with Boeing, General Electric and Samsung.

The head of the corporation stated in an interview with TASS, talking about the company's strategy until 2025.

The government corporation is planned to achieve the stated objectives, by primarily attracting outside investors. The planned sale of 49% stakes in helicopter construction holding, Russian Helicopters, and a similar amount in Radio-Electronic Technology Concern, who are engaged in the development and production of electronics for military and civil aviation, said the head of Rostec.

"Russian investors have interest in our companies. In matters concerning global projects, we will refer to Chinese and Indian partners," added Chemezov.

Both asset corporations intend to sell to the end of 2016.

Another step on the way to the set goal should be to maximize profits by entering into new markets and improving operational efficiency with the subsequent reinvestment of these funds back into the development of enterprises. "In addition, we want to encourage investment in the development of management holding companies," said Sergey Chemezov.

Rostec, founded in 2007, provides assistance in the development, manufacture and export of high-tech industrial products for civil and military purposes. There are more than 700 organizations in the government corporation. Rostec owns stakes in AvtoVAZ, Kamaz, Rosoboronexport, Novikombank, (a titanium producer) VSMPO-Avisma and Concern Kalashnikov.

The development strategy until 2025 was approved by Rostec's Board of Directors' in December 2015. The document assumes that the corporation should reach the key financial indicators of its global competitors Samsung and General Electric by 2035.

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