20.07.2007, 19.57

MOSCOW, July 20 (Itar-Tass) -- Russia may form a united machine tool company, Deputy Industry and Energy Minister Andrei Reus said at the Friday meeting of the Governmental Commission for the Development of Industries, Technologies and Transport in comments on the relevant suggestion by Russian manufacturers.

He said the manufacturers are ready to invest their funds in the company, which will build up the competitiveness of Russian machine tools through the consolidation of the scientific, technical and industrial potential of the industry.

The company will supervise modernization of the industry, replace imported equipped with Russian analogs, reduce production costs through higher labor efficiency, involve in the production the currently idle facilities, and make the governmental support to the industry more efficient, he said.

The project will be drafted, and the government will consider all cons and pros, Reus said