Izhmash on increasing production and reducing debt

 

"Izhmash", which is the largest Russian manufacturer of military automatic and sniper rifles, as well as guided artillery shells and civil produuktsii for the past 8 months of this year produced small arms to 11 percent more than the total volume of production of small arms for the full year 2011. According to the forecast for the year increased production of weapons will be 56 percent.

As explained in the "Russian Technologies", is still a large volume of products exported to the United States. At the end of eight months, the number of products shipped to the U.S. exceeded 2011 figures by 25 percent.

"To date, the priority task of the management of" Izhmash "is to maximize capacity utilization and expansion of markets", — stressed in the corporation. 

Total liabilities NGO "Izhmash" debt reduced by almost 95 times since the end of 2010 to October 2012, told RIA Novosti on Monday, spokesman of the plant.

At the beginning of 2011 to the "Izhmash", who was on the verge of bankruptcy due to multiple debts, crisis management team came corporation "Russian Technologies" led by Maxim Kuzyuk. The program is aimed at saving "Izhmash" has been laid and the restructuring of company’s financial recovery through bankruptcy the main companies of the group.

"At the moment, the total liabilities of the" Izhmash "is about 2,103 million rubles, while in the same period of 2010, this figure was 19 billion rubles," — said the source.

He noted that, according to the first eight months of this year, "Izhmash" has produced 11% more firearms than in all of 2011. "Annual production plan is made by more than 70% revenue for the first eight months totaled more than 1.81 billion rubles," — said the representative of "Izhmash".

According to him, the overwhelming percentage of revenue brings the realization of civil products. "Almost all of the proceeds (99%) accounted for civil use," — said the official.

In addition, he noted the trend of increasing the supply of weapons production in the United States. "According to our forecasts, the volume of supply of products" Izhmash "to the U.S. market by the end of 2012 will increase by 25% compared to last year," — said the press service of the plant.

Group of companies "Izhmash" (Izhevsk Machine-Building Plant) — industrial enterprise in the state corporation "Russian Technologies". "Izhmash" develops and manufactures a wide range of special and civil products — Kalashnikovs and Nikonov, submachine guns, sniper rifles, grenade launchers, aircraft guns, guided artillery complexes, facilities maintenance and repair of guided weapons, as well as serial and special machines and instrument. The company was founded in 1807. 

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