Kalashnikov Concern planning to double production in 2015
IZHEVSK. April 1 (Interfax) - Firearms manufacturer Kalashnikov Concern, which is part of Rostec, is planning to double production in 2015, the company's press service told Interfax on Tuesday.
Kalashnikov also expects to have revenues of 15 billion rubles in 2015, the press service said, adding that this will be achieved "by increasing the production of special products and firearms."
"Firearm production is planned to be increased by at least 20%-25% in 2015," a representative said, adding that Kalashnikov's international business grew in 2014.
"In 2014, Kalashnikov Concern increased its international business, excluding the U.S. market, threefold in natural terms and fivefold in monetary terms thanks to the diversification of the company's international business. This offset the negative impact of sanctions," the representative said.
In addition, revenues from civilian small arms sales on markets of the Asia Pacific region more than doubled and nearly quadrupled on CIS markets, while sales soared almost fivefold in Europe.
The Kalashnikov representative added that the concern had a state defense order. "The Kalashnikov Concern is working under a state defense order contract to produce guided Vikhr-1 missiles for the Russian Defense Ministry. In 2015, the concern intends to start making the first shipments," the representative said.
Kalashnikov had revenue of 2.3 billion rubles in 2014, while production totaled 3.4 billion rubles.
