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AK maker bankrupt

Pravda reports that JSC Izhmash was declared bankrupt. The company is state-run (shocking that they can’t make money, I know!). And this:

Russian news agencies said in January that the defense ministry was not planning any orders with Izhmash within the scope of the state defense order for 2012. It was also said that the new AK-12 assault rifle was nothing more but a bluff.

However, Izhmash officials said that the AK-12 was designed for export purposes to meet all modern requirements to small arms. An order from the state would give the company an opportunity to launch the serial production of the AK-12 for the Russian Armed Forces.

The state tests of the new rifle may begin at the end of 2012 or in the beginning of 2013. Russia’s Interior Ministry has already evinced great interest in the new product.

Is the AK12 vaporware?

2 Responses to “AK maker bankrupt”

  1. HL Says:

    Ivan Chesnokov will not be pleased.

  2. Mr Evilwrench Says:

    But aren’t they, like, “too big to fail”? They should do like we do in a real capitalist economy and have the government bail it out and take it over. Wait, what?

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