Contents tagged with Motor Sich

  • Chinese investors of Motor Sich increase amount of lawsuit against Ukraine to $3.6 billion

    Chinese investors of the Ukrainian aircraft engine manufacturer, Motor Sich, increased the amount of arbitration lawsuit against Ukraine by $100 million dollars, to 3.6 billion dollars.

    "The increase in the amount of preliminary claims is due to the fact that the initial group of plaintiffs was expanded to include several other Chinese shareholders, who also suffered significant losses as a result of Ukraine's actions in violation of its international obligations," reads the statement on Motor …

  • Ukraine slams sanctions on Chinese Motor Sich investors

    Ukraine has imposed three-year sanctions against the Chinese company Skyrizon, which, together with Ukrainian businessman Alexander Yaroslavsky, is trying to buy the Ukrainian company Motor Sich, one of the largest engine manufacturers for airplanes and helicopters worldwide.

    According to a resolution of the Ukrainian National Security and Defense Council, sanctions were imposed on Skyrizon Aircraft Holdings Limited (British Virgin Islands), Hong Kong Skyrizon Holdings Limited (Hong Kong), …

  • Chinese investors prepare to sue Ukraine for $3.5 billion over Motor Sich

    Chinese companies Skyrizon and Xinwei Technology, which own shares in the Ukrainian aviation company "Motor Sich" hired three international law firms to sue Ukraine for 3.5 billion dollars, reported Ukrainian partner of these Chinees companies, DCH Investment Management, which is owned by the Ukrainian oligarch Oleksandr Yaroslavskyi.

    The law firms WilmerHale, DLA Piper и Bird & Bird will be representing the Chinese side. The law firm Arzinger will be an advisor on Ukrainian law.

    The Chinese …

  • Washington: ‘Serious’ US companies are considering buying Ukraine’s Motor Sich

    William Taylor, Chargé d’Affaires of the US Embassy in Kyiv, said that “serious American” companies are investigating the possibility of buying the Ukrainian aerospace company Motor Sich, KyivPost reports.

    “There are several serious American and other companies interested in Motor Sich. They’re doing legal due diligence, looking at financial reports, visiting the plant, and talking to the owners. They’re doing a serious analysis,” Taylor told a number of Ukrainian media outlets.

    Taylor did …

  • China on purchase of Ukraine’s Motor Sich defense plant: We’ve snatched ‘pearl of engine building’ away from US and Russia

    An article has appeared in the Chinese press which claims that the companies Tianjiao Aviation Industry Investment Co (Skyrizon Aircraft) and Xinwei Group (both Chinese) will be acquiring a controlling package of shares in the Ukrainian engine manufacturer Motor Sich.

    The deal will involve a package of shares worth around $250 million, the amount that the Chinese firms will “invest” in the factory over the next two years.

    Initially Ukraine did not comment on such statements published in the …

  • Head of Ukraine's defense conglomerate UkrOboronProm: Russia could be behind purchase of Ukrainian defense company Motor Sich

    The deal through which Chinese investors came to hold more than 50% of the shares of the Ukrainian company Motor Sich is concerning with respect to the possibility of technologies leaking to China or even Russia, Aivaras Abromavicius told Economichna Pravda(Economic Truth) in an interview. Abromavicius has been appointed by Ukrainian President Volodymyr Zelensky as the director general of the state-owned defense conglomerate UkrOboronProm.

    “I think that the state should control the company …

  • U.S. tries to dissuade Ukraine from cooperating with China

    During his visit to Ukraine on Tuesday, U.S. National Security Advisor John Bolton confirmed that he will try to convince the Ukrainian authorities of the danger of cooperation with China.

    However, Bolton declined to comment on matters related to the sale of Ukrainian manufacture of airplane and helicopters engines, Motor Sich, to Chinese investors.

    He did not confirm, but also did not deny media reports, that the U.S. will try to block the sale of the Motor Sich with a subsequent transfer of …

  • Media: Ukrainian defense company supplying parts to Russian army

    The Ukrainian company Motor Sich, whose president was awarded Ukraine’s highest national title, the Hero of Ukraine, MP and four-time member of Ukraine’s National Security and Defense Council Vyacheslav Boguslayev, is still supplying components for Russian military engines, according to a study by journalists at Bihus.Info.

    The authors of the study draw attention to the fact that Boguslayev and Pietr Kononenko, director of Motor Sich’s offices in Moscow, own a number of companies in Russia: …

  • SBU initiates criminal proceedings over the sale of Ukraine’s Motor Sich to Chinese investors

    On 6 July 2017, the Security Service of Ukraine (SBU) initiated criminal proceedings according to the article on “preparation for sabotage” in connection with the sale of the Motor Sich factory to Chinese investors affiliated with the company Beijing Skyrizon Aviation Industry Investment Co. Ltd, reports with a reference to the ruling of the Shevchenkivsky District Court from September 7.

    “The pretrial investigation has established that from 2016 to the present, unidentified persons …

  • Ukrainian Motor Sich Company: Ukraine found new, alternative to Russia, markets for its helicopter engines

    Ukrainian Motor Sich Company found new markets for its helicopter engines which were previously shipped for use in Russian helicopters, as stated by the head of the company at Milex-2017 exhibition which takes place in Belarus.

    "We can wish Russia success in its endeavors. If we do not ship to Russia, at the moment we have found other markets. With very few exceptions, our products are used in almost all countries of the world,” he stated, as quoted by TASS news agency.

    Previously, the …