What is "rostec"

Rostec ( - Rostekh), formerly Rostekhnologii is a Russian state corporation (a non-profit entity type) established in late 2007 to promote development, production and export of hi-tech industrial products for civil and defense sectors. It brings together 663 entities which form 13 holding companies. Eight holding companies operate in the defense-industry complex and five of them are involved in civil sectors. Rostec’s organizations are located in 60 constituents of the Russian Federation and supply goods to over 70 countries worldwide.

Rostekhnologii was founded in 2007 as so called " state corporation", a very special type of legal entity in Russia. The state corporation is established by equity contribution made by the Russian Federation. The organization is headed by Sergey Chemezov. Its headquarters are located in Moscow.

Full name in the Russian language is Государственная корпорация по содействию разработке, производству и экспорту высокотехнологичной промышленной продукции «Ростехнологии». Short name in the Russian language is Госкорпорация Ростех. Full name in the English language is State Corporation for Assistance to Development, Production and Export of Advanced Technology Industrial Product «Russian Technologies» (Rostec). Short name in the English language is State Corporation Rostec. Rostec was known as Rostekhnologii until December 2012.