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02:10 PM, March 9, 2017
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Kalashnikov To Acquire 33 Perc Stake In Rocket Firm
Kalashnikov AK47 Assault Rifle

Russia’s Kalashnikov will be acquiring a 33% stake in the Novosibirsk-based Institute of Applied Physics.

Kalashnikov will acquire the stake from the Kurganpribor holding, which manufactures a wide variety of civilian and military products, the company announced Tuesday.

 The investment by Kalashnikov into the company would permit both organizations to increase their exposure to the Russian Ministry of Defence, as well as develop new weapons systems, the management of Kurganpribor and the Institute of Applied Physics said.

The institute's general director, Alexei Baryshev, said that the company would begin working with Kalashnikov on systems for fast naval boats.

 

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