Russia's legendary Kalashnikov producer faces bankruptcy
MOSCOW. September 21. KAZINFORM An arbitration court has accepted a bankruptcy suit against the producer of Russia's famed Kalashnikov assault rifles, Russian media reported on Monday; Kazinform refers to RIA Novosti.
A court in the Urals republic of Udmurtia said on its website that the suit had been filed by a previously unknown company named Gremikha. It did not specify the connection between the plaintiff and Izhmash, the owner of the Kalashnikov plant.
The court said a hearing on the suit would be held on October 7.
Observers said bankruptcy would help Izhmash, Russia's largest firearms producer, to deal with its debt burden, but warned that new wave of unemployment would sweep the region; Kazinform cites RIA Novosti.
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