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Tuesday, July 23, 2013

Izhmash Gets $390M Order

9K121 AT12 Vikhr-1Izhmash arms factory, manufacturer of the legendary Kalashnikov assault rifle, has won a 13 billion ruble ($390 million) Defense Ministry tender for antitank missiles, the company said Monday, in one of its "largest state orders in recent years."

Izhmash is to deliver Vikhr-1 long-range, supersonic armor-piercing missiles by the end of 2015, company chief executive Konstantin Busygin said.

The Vikhr-1 contract will enable Izhmash to tackle almost all of its financial problems, he said in late May, adding that its current debt stood at 3 billion rubles.

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