The state-run joint stock holding Artem (Kyiv) has sent the first batch of R-27 medium-range air-to-air missiles produced for the Indian Air Force to the customer, the Ukroboronprom concern has reported, with reference to its director general, Serhiy Hromov.
“The first batch of missiles has been shipped to the customer, and the next batch is being prepared for delivery,” Hromov said, noting that the execution of the Indian contract will allow the full utilization of the enterprise’s capacity until the end of 2013.
He expressed the confidence that the Ukrainian-produced high-precision aircraft weapons will continue to be in demand in the regional markets for conventional weapons.“We’re not limiting ourselves to the Indian contract. Our representatives are actively working with traditional customers from Southeast Asia, North Africa and other regions,” the state enterprise director said.
Hromov also said that the state should grant the Artem holding tax benefits provided by the law of Ukraine on the state aircraft industry, which will allow the company to increase its working assets, as well as to use credit resources more efficiently, he said.
Artem signed a contract with the Defense Ministry of India for the supply of R-27 missiles to the Indian Air Force in March 2012. The contract, worth $250 million, is to run from 2012 to 2013.Artem holding company was created in September 1996 on the basis of the Artem Kyiv Production Amalgamation, and is one of the leading aviation companies in Ukraine.
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