Peleng company to be sold

Roskosmos company counts to receive full control over Belarus's leading engineering company.

Head of the Russian Federal Space Agency Vladimir Popovkin said yesterday about the agreement on setting up a joint company on the basis of Peleng. He confirmed that Russia hopes for at least a blocking stake in the new company, ITAR TASS reports.

“Belarusian company Peleng needs guaranteed cooperation and orders from Russia. In my opinion, one of the ways to guarantee it is acquiring at least a blocking stake in the authorized capital,” Vladimir Popovkin said.

He noted that the Belarusian company produces optical systems (lenses and sensors) also for the space industry. According to him, “the company needs guaranteed orders from Russia. One of the ways to guarantee it is Russia's participation in the fixed funds of the company”.

Roskosmos head said the issues of the stakes of the parties in the joint company, its cost and production orders would be discussed at the talks in Minsk.

JSC Peleng is Belarus' leading designing company in optoelectronics founded in 1974.

The company specialises in research and development works, production of high-technology optomechanical and optoelectronic equipment.

The company is the exclusive supplier of fire-control systems for Russian tanks T-90 and tank support fighting vehicles. Through the intermediary of Beltechexport and Rosoboronexports that control the trade in military industry products Peleng takes part in upgrading fire-control systems for USSR-produced armoured vehicles serving all over the world. Experts say the Belarusian company may be involved in cooperation with rogue states.

Roskosmos announced its plans to buy the Belarusian company long ago. Deputy PM Uladzimir Siamashka said the Russian company proposed to buy Peleng in August 2012. At that moment Roskosmos wanted to owe a 48% stake in the company.

He spoke about the talks on Peleng's privatisation after his visit to Moscow last month. “As for Integral, Grodo Azot and Peleng, the work is in progress, working groups have been created. We are holding talks on MAZ and KAMAZ and considering variants on the Minsk Wheel Tractor Plant,” Uladzimir Siamashka said to journalists.

He reminded that in late 2012 Lukashenka and Putin had agreed on implementation of integration projects in the framework of the “union state”. Initial arrangements related to 8 or 9 projects, but their number was later reduced to 5.