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. Last Updated: 07/27/2016

New Aircraft Plant

A company part-owned by United Aircraft Corporation plans to start making composite components for aircraft in 2014 in a drive to catch up with Airbus and Boeing.

AeroComposit will build a plant in Ulyanovsk, according to a statement e-mailed Monday by United Aircraft Corporation, the state holding company for airplane production.

The $250 million plant will be financed mainly by loans, United Aircraft spokesman Maxim Sysoyev said Monday. 

(Bloomberg)