RUSNANO Board of Directors Recommends to Continue the Asset Management Functions of RUSNANO Management Company for Another 10 Years
The RUSNANO Board of Directors made a decision to recommend to the general shareholders’ meeting of the Company that RUSNANO Management Company continue its asset management functions for another 10 years. The Board also approved the terms and conditions of the new management contract between JSC RUSNANO and RUSNANO Management Company LLC.
The contract will come into effect once it is approval by the general shareholders’ meeting of RUSNANO (100% state owned) as prescribed by the Russian Government’s directive.
The current 5-year management contract between JSC RUSNANO and RUSNANO Management Company LLC was signed in February 2014 and expires on February 11, 2019. According to the contract, RUSNANO Management company LLC functions as sole executive body of RUSNANO, which in turn owns the project portfolio.
RUSNANO Joint-Stock Company was founded in March 2011 through reorganization of state corporation Russian Corporation of Nanotechnologies. JSC RUSNANO contributes to implementation of the state policy on the development of the nanotechnology industry by investing directly and through investment funds of nanotechnology in financially effective high-technology projects providing the development of new production facilities in the Russian Federation. Its primary investment focus is in electronics, optoelectronics and telecommunications, healthcare and biotechnology, metallurgy and metalwork, energy, mechanical engineering and instrument making, construction and industrial materials, chemicals and petrochemicals. 100 percent of RUSNANO’s shares are state owned. Thanks to RUSNANO’s investments, there are currently 97 factories and R&D Centers opened in 37 regions in Russia. JSC RUSNANO has profit for the last 4 years.
Management of assets of RUSNANO JSC is carried out by Limited Liability Company established in December 2013, RUSNANO Management Company. Anatoly Chubais is the Chairman of its Executive Board.
Work to establish nanotechnology infrastructure and carry out educational programs is fulfilled by RUSNANO’s Fund for Infrastructure and Educational Programs, which was also established during the reorganization of the Russian Corporation of Nanotechnologies.