Russia says a third of arms firms near bankruptcy

Newswire

By Guy Faulconbridge MOSCOW, Feb 25 (Reuters) - One third of Russia's weapons makers are on the verge of bankruptcy and the industry is seeking Western loans because domestic credit is impossibly expensive, a state corporation chief said on Wednesday. "The financial and economic condition of only 36 percent of strategic organisations in the military industrial complex can be seen as stable," Sergei Chemezov, head of the influential Russian Technologies holding company, told lawmakers. ...

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