JTT recently reported that famed Russian manufacturer of AK rifles, Izhmash, was going through bankruptcy. Now, as many of you predicted, RT.com is reporting that they are rising from the ashes as a new company. They have sold all of their “bad assets” and retained all of their “good assets.”
It is interesting to hear the CEO mention that Izhmash is taking a page from the GM playbook:
“The model we took is General Motors, which went through restructuring in a bankruptcy case and the creation of a new company, which took all good assets and sold what we call bad assets,” Maxim Kizuk, the CEO of Izmash, told RT.
There is still no word on what this means for Izhmash’s popular imports to the US market like the Saiga series of rifles. However, I suspect that they will continue to be imported without much, if any, disruption.
You can read the entire article at RT.com.