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MOSCOW (AP) - Russian President Vladimir Putin has signed a decree to create an aircraft corporation, intending to pull the nations' struggling manufacturers under one roof, the Kremlin announced Tuesday.
The decree, posted on the presidential Web site, said the state would own no less than 75 percent of the corporation's shares, while the government would have until April 1, 2007, to determine private shareholders' stakes in the company.
Russia has long spoken of the need for consolidation to reinvigorate an industry that in its Soviet heyday rolled out 700 aircraft a year and accounted for a quarter of the world's civilian fleet.
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