Irkut Corporation - Introduction

Introduction

30/7, Building 2, B. Molchanovka Street
Moscow 121069
Russia
Telephone: (+7) 095 290-34-04
Fax: (+7) 095 290-34-04
Web site: http://www.irkut.com/en/

Public Company
Incorporated: 1932
Employees: 22,000
Sales: RUB 13.07 billion ($522 million) (2003)
Stock Exchanges: RTS MICEX
Ticker Symbol: IRKT
NAIC: 336411 Aircraft Manufacturing; 541710 Research and Development in the Physical, Engineering, and Life Sciences

Irkut Corporation is a leading developer and producer of aircraft and aviation products. In March 2004, Irkut became Russia's first publicly traded defense company. Originally the Irkutsk Aircraft Factory, one of the Soviet Union's major manufacturers of combat aircraft, including the MiG-23, MiG-27 and Su-27 fighters, the company became known as Irkut Corporation after its 1992 privatization.

As part of its bid to become a vertically integrated aircraft producer, Irkut acquired a controlling interest in the Beriev Design Bureau in 1997. A 76 percent holding in the famous Yakovlev Design Bureau was acquired after Irkut's initial public offering in 1994.

As it sought to increase the proportion of civilian-related work, Irkut was focused on three primary niches: trainers and light fighter aircraft; UAVs (unmanned aerial vehicles), and military cargo and amphibious planes. Irkut was also manufacturing Russia's most advanced fighter, the Sukhoi Su-30, for export.