SpetsTechnoExport Signs New Contracts Worth $337 Million This Year

During the first seven months of 2019, the state-owned company “SpetsTechnoExport”, which is a part of the State Concern Ukroboronprom, concluded new foreign economic contracts with a total value of $337 million, which is a new company record over the last 10 years.

This was stated by the director of “SpetsTechnoExport” Mr. Vladyslav Belbas in his interview to Defense Express.

“As for signing new contracts, we have already exceeded last year’s figures. As of today (seven months of 2019), we have already signed new contracts with a total value of $337 million. This is a new record for the company over the last 10 years. Now the main thing is that nobody inside the country put a spoke in company’s wheel in the process of their implementation,” – Mr. Vladyslav Belbas said.

Last year, “SpetsTechnoExport” also showed high dynamics in concluding new defense contracts with foreign partners. According to the Business Report 2018, the company signed new contracts with total value $282.5 million in 2018, though in 2017 it was only $114.4 million.

The total amount of arms exports of Ukraine in recent years is estimated at $600-700 million. In the pre-war period, Ukraine on average earned $1 billion on arms sales annually.

As noted earlier, in June 2019, Ukraine has completed the qualification tests of the first Ukrainian-Turkish RWS “SERDAR”. “SERDAR” is a joint development of Turkish company Aselsan and Ukroboronprom – “Luch” Design Bureau and “SpetsTechnoExport”.

SERDAR ATGM Launching System
SERDAR ATGM launching system jointly developed by Luch Design Bureau and SpetsTechnoExport, part of Ukraine’s Ukroboronprom enterprise, and Turkish company Aselsan.

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