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VTB signs cooperation agreement with Schvabe

28 August 2013

Sergei Maksin and Valery Lukyanenko © VTB Bank Press-office, Alexander Panov

VTB Bank signed a cooperation agreement with Schvabe Holding Company on the second day of the 2013 MAKS International Aviation and Space Salon in Zhukovsky. The agreement covers the provision of comprehensive banking services for Schvabe companies, and was signed by VTB Bank Management Board member Valery Lukyanenko and Schvabe Director General Sergei Maksin.

Under the agreement VTB Bank will finance Schvabe’s production programmes as well as investment projects and M&A. The bank has also committed to provide advisory and information services in banking, investment and finance.

Schvabe Holding Company comprises 37 organisations including research institutes, design bureaus and research and industrial centres. Schvabe companies employ about 20,000 people. The companies are responsible for the full cycle of design, production, marketing and maintenance of optoelectronic systems for the Air Force, the Army, the Navy and Special Services. Schvabe also manufactures thermal imaging modules, medical devices and a broad range of civil products. The holding company manufactures about 6,000 product units supplied to 83 countries.

Rostec State Corporation owns a 100% stake of the company.

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