State-owned Russian defence and industrial group Rostec announced on 7 November that it has begun to seek a buyer for a 49% share in weapons manufacturer High Precision Systems (Vysokotochnye Kompleksy).
The company’s activities in the defence sector, though focused on missiles and precision weapon systems, are varied, held in a variety of subsidiaries. It currently employs about 45,000 people.
The decision to sell a minority stake in the High Precision Systems, made by Rostec’s supervisory board, was made with the goal of enabling investment in the expansion of the company’s technological capabilities and increasing the efficiency of its operations.
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