Kalashnikov Concern acquires control stake of Euroyachting Rybinskaya Verf

Kalashnikov Concern (State Corporation Rostec) is acquiring a control stake of Euroyachting Rybinskaya Verf Group (51%). According to the Concern’s press center, Kalashnikov will go into comprehensive development and production of hi-tech landing crafts, search-and-rescue and pleasure boats, as well as promotion of its products to new markets and expansion of sales.

According to Kalashnikov CEO Alexey Krivoruchko, the key target of the Concern is to expand its product range under its new strategy through 2020.

“A decision has been made to acquire 51% of Euroyachting Rybinskaya Verf. The Concern is set to undertake comprehensive development and serial production of civil and warfare crafts and also plans to manage the entire life cycle of its products from development to scraping,” Alexey Krivoruchko says.

On the basis of Rybinskaya Verf Group, Kalashnikov is to develop and produce hi-tech landing crafts, search-and-rescue and pleasure boats for specific authorities and for river/sea voyages.

Landing crafts, search-and-rescue and pleasure boats manufactured under the trademark of Rybinskaya Verf will be promoted under the corporate brand of Kalashnikov Concern.

The new structure of the Holding will include the following subsidiaries: Euroyachting, Rybinskaya Sudostroitelnaya Verf, RSB-Servis and Rybinskaya Verf. The Concern is also looking into expansion of the activities for providing the customer with boat storage and repair services.

Kalashnikov Concern is the managing organization of the Holding company, which develops and manufactures advanced samples of weapons systems for military, civilian and sports purposes. The Holding, in its turn, is 51% owned by the Rostec State Corporation, which unites more than 700 organizations that form the basis of the technological and scientific potential of the Russian Federation. The remaining 49% is owned by private investors. The concern currently ships its products to over 27 countries worldwide. The Concern manufactures 3 product brands: Kalashnikov - military weapons, Baikal - hunting and non-military weapon, Izhmash - sporting firearms.