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Russia's Rostec Revenues, Export Sales Up in 2013

Jan. 16, 2014 - 04:50PM   |  
By JAROSLAW ADAMOWSKI   |   Comments
Aleksey Aleshin
Aleksey Aleshin (Rostec)
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WARSAW — Russia’s state-owned defense group Rostec has posted improved results for 2013, said Aleksey Aleshin, first deputy chief executive.

In 2013, the group’s revenues generated by orders placed by the Russian Ministry of Defense rose 43 percent from 196.6 billion rubles (US $5.89 billion) to 281.1 billion rubles, Aleshin told local news agency RIA Novosti.

In addition, Rostec increased its export sales by an estimated 18 percent last year. Between 2013 and 2016, Russian arms exports are expected to remain at about $13 billion per year, Aleshin said. Rostec’s subsidiary, Rosoboronexport, handles more than 80 percent of Russia’s arms exports.

The deputy chief executive said that Rosoboronexport’s development strategy until 2020 foresees maintaining Russia’s strong position in the global arms market. Moreover, Rostec’s outlook for sales in the domestic market is also positive, according to Aleshin. From 2011 to 2020, the Russian government is aiming to spend as much as 20.7 trillion rubles on acquisitions of armament and military equipment for the armed forces.

Set up in 2007, Rostec is headquartered in Moscow.

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