At least, not as well as it used to.
OJSC Izhmash, maker of the legendary Kalashnikov assault rifles (favorites of terrorists and rebels worldwide for their remarkable reliability) filed for bankruptcy last week.
Though OJSC’s product line remains extremely popular, the AK-47 and other famous rifles have been relentlessly copied and sold by foreign manufacturers. These mostly inferior copies – for which OJSC receives no royalties – have long been biting into the company’s bottom line.
Similar to a US Chapter 11 filing, OJSC Izhmash has proposed a restructuring plan that will allow it to maintain regular business operations until the restructuring takes hold. To help out the iconic brand, it’s widely expected that the Russian government will place large, unnecessary orders for new weapons (how do you say “bailout” in Russian?).
OJSC Izhmash’s long-term strategy is to develop a new family of automatic weapons to retrieve its falling market share.
____OJSC Izhmash, maker of the legendary Kalashnikov assault rifles (favorites of terrorists and rebels worldwide for their remarkable reliability) filed for bankruptcy last week.
Though OJSC’s product line remains extremely popular, the AK-47 and other famous rifles have been relentlessly copied and sold by foreign manufacturers. These mostly inferior copies – for which OJSC receives no royalties – have long been biting into the company’s bottom line.
Similar to a US Chapter 11 filing, OJSC Izhmash has proposed a restructuring plan that will allow it to maintain regular business operations until the restructuring takes hold. To help out the iconic brand, it’s widely expected that the Russian government will place large, unnecessary orders for new weapons (how do you say “bailout” in Russian?).
OJSC Izhmash’s long-term strategy is to develop a new family of automatic weapons to retrieve its falling market share.
"I'm proud of my invention, but I'm sad that it is used by terrorists. I would prefer to have invented a machine that people could use and that would help farmers with their work - for example a lawnmower."
Mikhail Kalashnikov, age 82
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