Russian Technology and United Aircraft Corp. sign $855 mln deal

MOSCOW, March 11 (RIA Novosti) - The state-owned Russian Technology Corporation and United Aircraft Building Corporation signed a 30 billion-ruble ($855 million) cooperation agreement on Wednesday.

The accord covers the production of airplane parts up to 2012, during which time individual orders for specific parts will be guaranteed for periods of at least three to five years. The two corporations also agreed to work on a flexible basis, taking into consideration changes in inflation, energy costs, taxes and bank loans.