Irkut's Expansion Strategy
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Code : COM0019
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Region : Russia
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The Inception The history of IRKUT can be traced back to August 1932, when the Government of Joseph Stalin established the Irkutsk Aviation Plant in Irkutsk, Siberia to supply the Soviet Air Force with military aircrafts. In 1935, the company manufactured its first aircraft I-147. In 1936, IRKUT started producing SB bombers and received its first export order for SB from China in 1937... Up, Up and Away On IRKUT's product line expansion, Fedorov said, "We want to shift our focus towards assembling more civil aircraft, something we are not currently strong at. It's just not military technology but our market strategy that counts". To fund its expansion strategy, the company decided to float its first IPO and also published its Annual Report 2002 on the basis of US GAAP.... A Flight to the Future Planning a listing on London stock exchange in 2005, IRKUT was focusing on business opportunities in the aviation industry beyond Russia. Apart from the market expansion in Europe and the US, IRKUT was also chalking out the opportunity to enter into the markets of China, Greece, Israel, Italy, Canada, Germany, Japan and the Philippines through its Be-200 amphibian. In its long termvision, IRKUT projected an increase in its revenues to $1.6 billion by 2013 and aimed 'to attain the status of world-class business structure specialised in developing and manufacturing of aircraft for a wide variety of applications' by 2016... |
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