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    Aleksey Krivoruchko, chief executive of Russian firearms maker Kalashnikov Concern, holds a weapon during the International Defence Exhibition (IDEX) in Abu Dhabi February 22, 2015

    Kalashnikov to Implement Production Development Program by 2020

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    According to Kalashnikov’s press service, company has launched a large-scale program on the development of its production system through 2020 that should bring in around $54 million in revenue.

    MOSCOW (Sputnik) Russia’s weapons company Kalashnikov has launched a large-scale program on the development of its production system through 2020 that should bring in around $54 million in revenue, the company’s press service said Tuesday.

    “The perfected production system will help solve many issues, first of all organizational. This will considerably increase the effectiveness of production, decrease regular expenses by more than 20 percent, and increase the quality of production, and this is the result that we are aiming for,” the press service quoted Kalashnikov General Director Alexei Krivoruchko as saying.

    He said that the company plans on reaching its goals within the next two to three years that will lead to a savings of approximately $54 million in expenses.

    On March 31, Krivoruchko said the company was planning to double its production in 2015, having a substantial order from the country's Defense Ministry and foreign partners.

    Kalashnikov is the leading Russian developer and manufacturer of automatic and sniper combat weapons, guided artillery ammunition, and a wide range of civilian products, including shotguns and sporting rifles. It delivers its products to 20 countries around the world.

    In December 2014, Russian state technologies corporation Rostec CEO Sergey Chemezov said Kalashnikov had almost fully made up for the shortfall in sales caused by the Western sanctions imposed on Russia.

    In July 2014, Washington prohibited imports of Kalashnikov products to the United States citing Russia's alleged interference in the Ukrainian internal conflict. In September, the company was faced with a limited access to the EU financial markets.

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    Tags:
    revenue, weapons, Kalashnikov Corporation, Russia
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