newstodate.aero
Aug 07, 2023 (newstodate): Ukraine's only civil and military engine manufacturing company, Motor Sich, has again been the target for Russian missile strikes.
Motor Sich was actually supposed to have suspended operations after the start of Russia's war on Ukraine as its supply chain was disrupted and its facilities were hit several times, but Russia's recurrent attacks on the Motor Sich facilities proves that the company continues to operate.
From 2015, a number of shares were acquired by offshore companies registered in Panama, the Virgin Islands, Cyprus and Saint Kitts and Nevis - but eventually the main beneficiary of the transactions proved to be a Chinese citizen, owner of Beijing Skyrizon Aviation Industry Investment Co., Ltd., and the Xinway Group.
Despite vehement protests from the Ukrainian government, a majority stake in Motor Sich ended in Chinese hands- but eventually strong US protests against the deal led the Ukrainian state to step in, nationalizing the company, that is now seen to produce power plants for various Ukrainian drone and missile types.