Russia’s Irkut growing as product line diversifies
Boasting an order book amounting to $4.6 billion, Russia’s Irkut Corporation reported here at Farnborough profits of $165 million on revenues that exceeded
Boasting an order book amounting to $4.6 billion, Russia’s Irkut Corporation reported here at Farnborough profits of $165 million on revenues that exceeded $1.3 billion last year. The total is three times more than the net profit it registered in 2006, according to Oleg Demchenko, president of the Irkut Corporation. He also announced that Irkut held a 15 percent share of Russia’s arms exports in 2007.
Although the company’s main manufacturing facility located at Irkutsk dates back to 1932, a new chapter opened in 2004 when it placed some 23 percent of its shares on the open stock market. Two years later the Irkut Corporation became part of Russia’s United Aircraft Corporation, subsequently taking a majority holding.
