Largest Ak-47 manufacturer faces bankruptcy

[thej27]

BusinessDay - Worlds? biggest AK 47 manufacturer is bankrupt

Izhmash, the biggest maker of Kalashnikov assault rifles, faces bankruptcy over unpaid debts.


The arbitration court in the Russian region of Udmurtia, where Izhmash is based, will consider a bankruptcy lawsuit filed by creditor OOO Gremikha on October 7th. Izhmash owes Gremikha more than $13 million, according to Izhmash’s Web site.

Izhmash, where Mikhail Kalashnikov, 89, invented the AK-47 in the 1940s, is a unit of Russian Technologies Corporation, a state holding company with mining, arms and automotive assets.



“A special commission at Russian Technologies is currently reviewing the financial situation of Izhmash and will issue a press release when its work is finished,” Russian Technologies spokesman Valery Kartavtsev said by phone in Moscow, declining to elaborate. Alexander Baditsa, a spokesman for Izhmash, declined to comment.

 

[techres]

Great! Saiga's just went up in price...

 

[shooter521]

Great! Saiga's just went up in price...

I doubt it. Did GM or Chrysler cars go up in price b/c those companies went bankrupt?

 

[mettle]

Time to get one in 5.45 anyways.

 

[jblomenberg16]

How about a cash for clunkers program...trade in an old gun and get a new AK? Wait...that sounds good except for the trade in an old gun part.

Sounds like Russia needs to elect Barak Obama. Seemed to help gun sales here in the US! Granted, I'm sure a lot of those sales were for Saigas and other Izmash stuff as well.

Maybe the silver lining is liquidation of assets = guns, and we can get some a good price.

 

[NateIU10]

I like this article a little better:

Kalashnikov faces bankruptcy - The Globe and Mail

And it made me want to move!

Today there are an estimated 70 million AK-47-type guns in circulation around the world, and in some countries the weapon can be bought for as little as $50.

 

[theweakerbrother]

I'll take 20 at 50 dollars.

 

[OneBadV8]

maybe we could buy them out... I smell a group buy

 

[MoparMan]

maybe we could buy them out... I smell a group buy

 

[jclark]

maybe we could buy them out... I smell a group buy

I'm in....50 dollars a pop for full auto AK would be sweet.

 

[TheDude]

Now here is a company worthy of stimulus dollars.

 

[hotfarmboy1]

Now here is a company worthy of stimulus dollars.

AMEN!! I'm in for buying some cheap AKs!!!!

 

[haldir]

Do they export any AKs to the US. I have never followed AKs but don't recall seeing any of theirs here for sale.

 

[infidel]

maybe we could buy them out... I smell a group buy

REP

 

[shooter521]

Do they export any AKs to the US. I have never followed AKs but don't recall seeing any of theirs here for sale.

Saigas, and, by extension, the Arsenal SGL series (which are modified Saigas produced by Legion - the Izhmash custom shop - and finished by Arsenal Inc).

 

[chrisross85]

Time to buy

 

[Bill of Rights]

Do they export any AKs to the US. I have never followed AKs but don't recall seeing any of theirs here for sale.

Not new, non-neutered ones, at least not since 1986.

Blessings,
Bill