MOSCOW. Dec 2 (Interfax-AVN) - Concern Kalashnikov, a subsidiary of the Rostec State Corporation, has introduced a new development strategy to 2020, under which it aims to boost sales revenue four-fold, the concern said in a statement.
The total investments volume is estimated as more than 4.5 billion rubles, the concern, which unveiled the strategy on Tuesday, said.
The production modernization has been already started within the strategy realization.
"The one of priorities of the Concern will be the position reinforcement at the internal market and active promotion of military and civil production to abroad," said CEO Alexei Krivoruchko.
Kalashnikov accounts for about 95% of small arms weapon production in Russia. The rebranding is designed to promoted products better both in Russia and abroad.
"Also, the new global brand is to assist business development and production promotion as it is an important expansion element to the new markets and sales expansion in the civil sector," Kalashnikov said.
Rostec owns 51% of the concern's shares and 49% have been bought by private investors. Concern Kalashnikov's products are exported to more than 27 countries. The Concern includes three product brands: Kalashnikov military weapons, Baikal hunting rifles, and Izhmash sporting rifles.