Former BasEl Aero head named director of Russian Machines aircraft business

MOSCOW. July 23 (Interfax) - The former chief executive of BasEl Aero, Sergei Likharev has been appointed director of the aircraft division of Russian Machines, another unit of Oleg Deripaska's Basic Element group, Russian Machines said in a press release.

Likharev's priority in his new position will be to expand and strengthen the company's aircraft business, the core of which is the Aviacor plant in Samara. The strategic goals will include expanding the order book for An-140 planes for civilian and military use, development of a plan for production of the An-70, bringing production facilities up to new volumes of production, increasing labor productivity, developing cooperation with key international aircraft makers, and launching production of new models.

"The new management team of BasEl Aero will be approved at the board of directors meeting in August," Basic Element's press service told Interfax.

Likharev, 48, was CEO of airport group BasEl Aero, which manages southern Russian airports in Sochi, Krasnodar, Anapa, Gelendzhika and Yeisk, from 2008 until 2012, and was chief executive of Aviacor from 2004 to 2007. In 1997-2004 he held various management positions at the Interros Group, Ostankino Dairy Plant and Golden Telecom, and from 1993 to 1997 he was head of strategic consulting at Cannon Associates and Coopers & Lybrand. He holds a post-graduate degree in physics and mathematics from Moscow State University and an MBA from Cornell University in the United States.

Russian Machines is a major diversified holding company with industrial and engineering assets in the automotive industry, automobile components industry, railroad engineering, aircraft industry, production of special-purpose military vehicles, and production of construction and road-building equipment. RM has plants located in 14 regions of Russia, and employs more than 75,000 people.

Vp

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