Russian machine tool industry looks to recover Soviet era glory ...News

Demand has grown as a result of sanctions and the ongoing military operation in Ukraine A wave of sanctions and current military engagements have sharply increased demand for domestic machine tools in Russia, Semyon Yakubov, the CEO of RT-Capital, a subsidiary of state-run corporation Rostec, told business daily Kommersant on Thursday. Russia’s largest machine tools manufacturer, the STAN group, came under the control of Rostec’s subsidiary for work with non-core and distressed assets in 2019. Back then, the producer was in dire financial straits, unable to service loans or complete the orders dated from 2017. In

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