Kalashnikov Concerns To Be Privatized

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Posted November 20, 2017 11:00 am by Comments

By Tom Knighton

The name “Kalashnikov” is well-known in the gun world. After all, that’s the name behind the might AK-47 that has served on pretty much every battlefield since it’s debut for the Soviet Union oh-so-many years ago. In fact, it’s hard to think about the communism of the Soviet era without picturing an AK. Then again, that may well be the only thing that came out of the communist country that actually worked.

Even today, the AK is built by a company owned by the Russian government, basically making it still a product of socialism. However, those days are now numbered.

The iconic firearms maker, which is owned by state holding company Rostec, will soon be firmly in the hands of private investors.

Rostec said Tuesday that a deal to sell roughly half of its 51% stake in the original maker of the AK-47 has been agreed, and is now ready to be approved by the government.

The buyer is a private company called TransKomplektHolding, which is owned in part by Kalashnikov chief executive Alexey Krivoruchko. The firm already has a 49% stake in Kalashnikov.

The sale is a part of a broader privatization drive, announced by President Vladimir Putin in …Read the Rest

Source:: Bearing Arms

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