Rostec builds up production of tanks seven times in one year - CEO
DEFENSE-ROSTEC-PRODUCTION
MOSCOW, November 1. /TASS/. Rostec has increased the production of tanks 7 times and of light armored vehicles, 4.5 times over the year, the state corporation’s CEO Sergey Chemezov said on the Rossiya-24 TV channel.
"We have increased production several-fold. In one year alone, the output of tanks was up 7 times, of light armor - BMP, BMD and other armored vehicles - 4.5 times, of artillery and MLRS - 2.5 times, and of ammunition and some types of products, 60 times," he said.
Rostec is a Russian state corporation that was founded in 2007 to promote the development, production and export of industrial high-tech products for civil and military purposes. Rostec unites about 700 companies that form 14 holding companies, including OAK, Russian Helicopters, United Engine Corporation, KRET, Ruselectronics, Schwabe Holding, Konzern Tecmasch, Uralwagonsawod, Wyssokototschnyje Kompleksy, RT-Chemcomposite, Konzern Kalaschnikow, NPO Splav, Tsniitochmash and Rosoboronexport. Rostec aims to improve the quality of life of people by creating cutting-edge "smart" products. Rostec delivers goods to over 70 countries worldwide and has a turnover of 18.9 billion US dollars (2016).