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Russia’s only infantry fighting vehicle manufacturer files for bankruptcy

February 10, 8:51 UTC+3 YEKATERINBURG
KMZ in 2015 struck a long-term contract with Russia’s Defense Ministry to supply in 2015-2017 more than 200 BMP-3 infantry fighting vehicles to Russian army units
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© Alexander Alpatkin/TASS

YEKATERINBURG, February 9. /TASS/. A bankruptcy petition regarding Kurganmashzavod (KMZ) - Russia’s only enterprise manufacturing infantry fighting vehicles (BMP) - has been filed with the Kurgan Arbitration Court, the court press service told TASS Tuesday.

The petitioner is MTE Group registered in Moscow.

"The petition is connected with arrears on lease contracts of MTE Group and KMZ. Earlier the companies struck an amicable agreement, under which KMZ was to pay in two stages 41 million rubles ($515,000) of total debt on lease payments and some 1.9 million rubles ($23,800) of cancelation penalty," the press service said.

The court said Kurganmashzavod only paid 276,000 rubles ($3,460) out of the debt. "That’s why MTE Group demands that the plant be recognized bankrupt and that a bankruptcy commissioner be appointed," it said.

The petition was filed February 5 and has not yet been accepted for hearing. TASS was unable to get a comment from the plant.

KMZ, making part of Tractor Plants concern, is Russia’s only enterprise producing infantry fighting vehicles being in operational service with the armies of nearly 30 countries.

KMZ in 2015 struck a long-term contract with Russia’s Defense Ministry to supply in 2015-2017 more than 200 BMP-3 infantry fighting vehicles to Russian army units.

KMZ had wage arrears and a debt for gas to Gazprom mezhregiongaz Kurgan company.

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