Non-Subscriber ExtractBankruptcy fear for AK-47 producer |
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By Guy Anderson
24 September 2009
Izhmash - Russia's largest small-arms manufacturer and the company behind production of the Kalashnikov AK-47 assault rifle - is reported to have faced a bankruptcy suit from a creditor.
Russian state news agency RIA Novosti reported that a company called Gremikha had filed a suit with a court in Udmurtia in the Urals region. RIA Novosti said that a hearing is scheduled for 7 October.
Izhmash traces its history back to 1807 (it was founded on the orders of Tsar Alexander I). The company claims to have produced 11.3 million rifles and carbines during the Second World War.
Calls to Izhmash by Jane's went unanswered.
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