PRESS: Kalashnikov may buy 60% in NPO Molniya from Rostec - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

PRESS: Kalashnikov may buy 60% in NPO Molniya from Rostec

MOSCOW, Mar 28 (PRIME) -- Russian arms producer Kalashnikov plans to buy a 60% stake in space research and manufacturing association NPO Molniya from state industrial holding Rostec, Kommersant business daily reported late on Tuesday citing sources in the defense industry and the government staff.

The value of the deal, which is to be closed within a month, was not disclosed and is yet to be estimated, the daily reported, citing a government staff source.

Kalashnikov CEO Alexei Krivoruchko and representatives of Rostec confirmed the fact of the deal, which was supported by the government and is expected to help NPO Molniya to recover financially in order to participate in the development of reusable space shuttles and target missiles of various purposes.

Rostec representatives said that measures were taken to conclude an amicable deal with NPO MolniyaТs creditors to stop a bankruptcy case in January, in line with President Vladimir PutinТs order. Rostec also developed a financial recovery program for NPO Molniya until 2019, which is already being implemented.

NPO Molniya participated earlier in creation of the Buran space shuttle.

(57.1747 rubles Ц U.S. $1)

End

28.03.2018 12:13
 
 
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