Rostec to raise private investors’ share in Kalashnikov to 75%

MOSCOW, Apr 28 (PRIME) -- State industrial corporation Rostec will raise the stake of private investors in arms producer Kalashnikov to 75%, CEO Sergei Chemezov told President Vladimir Putin late on Thursday.

“Initially, private investors held a 49% share (in Kalashnikov). Now we have decided to boost it to 75% with the state keeping a 25% plus one share stake to control arms production generally,” CEO said.

Chemezov said that Kalashnikov opened five new producing facilities in 2016 and is a good example of fruitful cooperation between the state and private business.

He added that Kalashnikov has launched production of civil and military motor boats and drones.

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