VTB and UEC sign cooperation agreement

VTB Bank and the United Engine Corporation have signed a cooperation agreement, the VTB press service reported.

The document was signed by Valery Lukyanenko, Deputy President and Chairman of the VTB Management Board, and Alexander Grachev, CEO of UEC JSC, during the 16th VTB Investment Forum "RUSSIA IS CALLING!"

"The basis of the strategic partnership between VTB and UEC is the long-term successful experience of our participation in key UEC projects for the country. VTB Bank is deeply immersed in the specifics of its partner's work, is able to quickly solve the most complex tasks, fine—tune new products for the client, and find opportunities to increase the corporation's export potential," said Valery Lukyanenko.

With the financial support of the bank, projects that are strategically important for the domestic engine industry have already been implemented, aimed at creating and manufacturing modern high-tech products, as well as their promotion to foreign markets.

"UEC continues to strengthen its successful cooperation with our long—standing partner, VTB Bank. The support provided by the bank is of great importance for the development of UEC enterprises. The use of integrated financial solutions will help to increase the efficiency of the corporation's foreign economic activity," said Alexander Grachev, General Director of the UEC, member of the Board of the All—Russian industrial employers' association Union of Machine Builders of Russia.

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