Sevmash became joint stock company
Shipyard and mechanical plant Sevmash in Severodvinsk, Arkhangelsk Oblast, has been turned into a stock company. The change of ownership structure is made in connection with the inclusion of the company in the federal Joint Shipbuilding Corporation.
According to a press release from the company, the formalization of the new structure was completed on April 2 after more about a year of preparations.
Sevmash is world-known for its construction of nuclear submarines. The last years, the company has also been engaged in the construction of civil vessels.
The turning of Sevmash into a stock company is made in connection with the establishment of the Joint Shipbuilding Corporation, a federal shipbuilding giant which includes all the main shipyards in the country. The Joint Shipbuilding Corporation includes three sub units, one of which is the Northern Centre for Shipbuilding and Repair.
With the establishment of the Joint Shipbuilding Corporation, Russian authorities have got a united Russian shipbuilding industry able to take on challenges both within military and civil industry.
