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Kalashnikov Concern predicts operating loss of $49 million

Kalashnikov Concern was formed on the basis of two weapon producing factories — Izhmash and Izhevsk Mechanical Plant

Kalashnikov Concern CEO Alexei Krivoruchko ITAR-TASS/Sergei Bobylev

Kalashnikov Concern CEO Alexei Krivoruchko

© ITAR-TASS/Sergei Bobylev

MOSCOW, February 07. /ITAR-TASS/. Kalashnikov Concern predicts an operating loss of 1.7 billion rubles ($49 million) as of the end of 2013, enterprise’s CEO Alexei Krivoruchko, said on Friday.

“It’s not a secret that Kalashnikov Concern is facing a crisis. The situation is very complex. We’ll work to reduce costs,” Krivoruchko said.

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