Russian IFV producer faces bankruptcy
Kurganmashzavod, which is Russia's only producer of infantry fighting vehicles, may declare bankruptcy in the coming weeks, due to financial problems.
Sources close to the company, which is part of the Tractor Plants Holding, said it has huge debts and a collapse may affect its ability to fulfil Russian government defence contracts to supply military equipment for its land modernisation programme.
Total debts at Kurganmashzavod are estimated at RUB 15 billion ($250 million). The biggest lender is Vnesheconombank, one of the largest banks, owned by the state.
The huge debts have built up towards its own employees, as well from
Already have an account? Log in
Want to keep reading this article?
More from Land Warfare
-
![US DoD task force’s DroneHunter acquisition lays groundwork for Replicator 2 CUAS strategy]()
US DoD task force’s DroneHunter acquisition lays groundwork for Replicator 2 CUAS strategy
As the US Department of Defense looks to counter the growing threat of uncrewed aerial systems to improve homeland security, the DroneHunter acquisition could point to future commercial innovation.
-
![Norway opts for Hanwha’s Chunmoo for long-range fires under $2 billion deal]()
Norway opts for Hanwha’s Chunmoo for long-range fires under $2 billion deal
The selection of Hanwha’s K239 Chunmoo long-range precision fires system, with a contract expected to be signed on 30 January, makes Norway the second European country to choose the system. It is expected an operational system will be in service within four years.
-
![Layered protection: How air defence is adapting to rising drone and missile threats (podcast)]()
Layered protection: How air defence is adapting to rising drone and missile threats (podcast)
A surge in aerial threats – from advanced missiles to low-cost drones – is reshaping the way militaries approach air defence, driving demand for flexible, multi-layered solutions.
