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The Russian gun manufacturer responsible for the AK-47 will no longer be owned by the Kremlin after an ongoing corporate restructuring concludes.
News releases state that the company, Kalashnikov Kontsern, is set to be sold, resulting in investor Aleksei Krivoruchko holding the controlling stake, The New York Times reports.
Kalashnikov - Kontsern - Army - Company - Operations
While Kalashnikov Kontsern still sells to the Russian army, the company has diversified its operations and now sells arms to civilians, creates drones and offers a clothing line. The company has also moved into producing electric motorcycles. The AK-47 by far has been its most successful product. There are an estimated 100 million AK-47s worldwide.
The Kremlin’s stake up to this point was represented in a state holding company named Rostec. Rostec sold less than 50 percent of its stake in Kalashnikov in 2013, but now the Russian government...
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