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
Our news & analysis is now part of Defence Insight®
A Basic-level or higher Defence Insight subscription is now required to view this content.
More from Land Warfare
-
![India’s high-altitude logistics drone push drives demand as BonV Aero launches Air Orca]()
India’s high-altitude logistics drone push drives demand as BonV Aero launches Air Orca
The Indian Army's major drone procurement programme has drawn attention from BonV Aero which has launched its heavy-lift platform for extreme terrain missions.
-
![SpearUAV to deliver 1,000 loitering munitions to extend armoured vehicle capability]()
SpearUAV to deliver 1,000 loitering munitions to extend armoured vehicle capability
The company's Multi Canister Launcher can deploy its Viper system from multiple military platforms, boosting operational flexibility.
-
![Laser weapon solutions are emerging as Europe confronts air defence cost imbalance]()
Laser weapon solutions are emerging as Europe confronts air defence cost imbalance
Europe’s air defence debate is increasingly shaped by the blunt economics of the field. While high-value interceptor missiles can effectively shoot down cheap drones, doing so at scale presents cost challenges.
