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Russia’s Kalashnikov to quadruple 2014 revenue

September 19, 2014, 17:54 UTC+3 IZHEVSK
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IZHEVSK, September 19. /ITAR-TASS/. Russian arms producer Kalashnikov, part of state-owned industrial corporation Rostec, plans to increase revenue to $230-260 million (9-10 billion rubles) in 2014, Rostec CEO Sergei Chemezov told reporters on Friday.

The improvement of Kalashnikov’s financial results will be caused by production modernization, Chemezov said.

The company will dismantle 50% of machine tools by the end of the year, but its productivity rate will grow dozens of times, Chemezov said.

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