‘The article called AVS Group Builds on Wings that one of the newspapers carried recently is not quite accurate. It’s not true that AVS Group now owns a 53% shareholding in Ural Civil Aviation Plant, in spite of what the Group’s press officer was reported as saying. We have no idea of how the Group could possibly acquire the shareholding. The plant’s management was shown some papers which absolutely do not prove that the Group has any property rights over the shareholding whatsoever,’ says the plant’s Commercial Director’s Assistant Alexander Plotnikov.

In the meantime, AVS Group’s PR Department reports the Group’s BOD Chairman Valeriy Saveliev now has 53% of Ural Civil Aviation Plant’s shares, a portion of which he allegedly owns, with the remaining portion put on trust management.

‘The documents we’ve seen indicate that AVS Group has acquired a little over 13% of shares, that is, that the Group is now the plant’s minority shareholder,’ Plotnikov says.