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Rostec (Russian: Ростех, tr. Rostekh), officially the State Corporation for Assistance to Development, Production and Export of Advanced Technology Industrial Product Rostec (Russian: Государственная корпорация по содействию разработке, производству и экспорту высокотехнологичной промышленной продукции «Ростех») and formerly Rostekhnologii (Russian: Ростехнологии, literally means Russian Technologies), is a Russian state-owned holding conglomerate headquartered in Moscow that specializes in consolidating in strategically important companies, mainly in the defense and high-tech industries, by assisting in the development, production and export with the ultimate goal of capitalizing them and bringing them to an initial public offering (IPO).Established in 2007, the organization comprises about 700 enterprises, which together form 14 holding companies: eleven in the defense-industry complex and three in civil sectors. Rostec’s organizations are located in 60 constituents of the Russian Federation and supply goods to over 70 countries worldwide. The organization is headed by Sergey Chemezov.