About Civil.ge
Eng | Geo | Rus
Last updated: 10:55 - 1 May.'18
RSS
Mobile
Twitter
Facebook
MoD Takes Over Aircraft Manufacturer
Civil Georgia, Tbilisi / 1 Jul.'10 / 17:15

The Georgian Ministry of Defense (MoD) said on July 1, that it was taking over a privately-owned Tbilisi Aircraft Manufacturing (TAM) to establish “a military repair-industrial complex.”

MoD has claimed that “the initiative of merger” comes from TAM management, which currently owns 90% of the company shares; the rest is owned by the personnel.

According to the MoD announcement, TbilAviaMsheni (or Tbilisi Aircraft Manufacturing - TAM) will now turn into legal entity under public law.

“MoD is our main contractor and we think that our joint activities will be beneficial for the both sides,” Pantiko Tordia, TAM general director, said in a brief statement made a joint briefing with MoD official on July 1.

Neither Tordia nor MoD official took questions from journalists after making the announcement and details of the deal remain unclear.

“We have been cooperating with TAM for a long time already, involving using repair services of the factory. TAM’s merger with MoD will ease number of procedures,” Revaz Tcharbadze, head of MoD’s procurement department, said.

TAM was privatized by the state in November, 2004. Pantiko Tordia, general director of TAM, is among the company’s top management, which bought 90% of TAM’s shares for USD 67 million. Transaction, according to TAM website, was finalized in 2005.

TAM, which produces Su-25 (Frogfoot) ground attack aircraft, in 90s started investments in non-military related sectors. It also operates air carrier.

Latest News
01 May.'18 10:55
We Have Moved to a New Platform
Direct Your Bookmarks to https://civil.ge.
29 Apr.'18 03:54
Ruling Party Candidate Wins MP By-Elections
Givi Chichinadze will represent Vani and Khoni single-mandate constituency in the Parliament of Georgia.
28 Apr.'18 09:40
Polls Open for Vani and Khoni MP By-Elections
48,123 voters are eligible to cast their ballots in Vani and Khoni single-mandate constituency.
27 Apr.'18 17:23
State Dept’s Europe Affairs Point Man to Visit Tbilisi
Wess Mitchell will meet senior government officials and address the NATO-Georgia Public Diplomacy Forum.
27 Apr.'18 13:45
In Quotes: Georgian Politicians on Ex-PM Bidzina Ivanishvili’s Comeback
Bidzina Ivanishvili will be approved as the Georgian Dream party chairman at the upcoming convention.
26 Apr.'18 18:15
SG Jens Stoltenberg: Georgia NATO’s ‘Very Close’ Partner
The NATO Secretary General says Foreign Ministers meeting tomorrow will recognize the country’s progress.
26 Apr.'18 14:24
Ex-PM Ivanishvili to Chair Georgian Dream Party
Prime Minister Giorgi Kvirikashvili said Ivanishvili was ‘best equipped’ to add new dynamism to the party.
26 Apr.'18 11:12
Lawmaker Proposes Criminal Liability for ‘Insult of Religious Feelings’
The parliamentary human rights committee decided to set up a working group for scrutinizing the draft law.
25 Apr.'18 17:21
New Abkhaz Government Head Appointed
Gennady Gagulia has served as the Abkhaz “prime minister” twice - in 1995-1997, and 2002-2003.
25 Apr.'18 14:43
Watchdog Improves Georgia’s Press Freedom Ranking
None of the countries of the former Soviet Union (except the Baltics) are ranked ahead of Georgia.

About Civil Georgia
Civil.Ge © 2001-2019, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
49