News on New Almaz-Antey Plants

According to TsAMTO, the press-service of OAO Concern PVO ‘Almaz-Antey’ says the firm will sell supplemental stock this month, and some of the extra working capital will be used to finance construction of two new surface-to-air missile assembly plants.  Hat tip to VPK.name for highlighting the story.

Specifically, Almaz-Antey intends to spend more than 3.5 billion rubles to finance the new factories.  Four and a half billion rubles in federal budget money was already allocated to this effort in 2010 in exchange for additional government shares in the company.  And Almaz-Antey is also using government-backed credit in the expansion. 

The assembly facilities will be in Nizhniy Novgorod and Kirov.  They are supposed to be complete in 2015.

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