A salesperson shows a model AK-47 assault rifle to customers (not seen) at the newly opened Gunmaker Kalashnikov souvenir store in Moscow's Sheremetyevo airport, Russia, August 22, 2016. REUTERS/Maxim Shemetov
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Private investors have for the first time gained a majority share of Russia's Kalashnikov arms manufacturer, producer of the famed AK-47 assault rifle, the company said Thursday.It made the sale to Kalashnikov's General Director Alexei Krivoruchko, who was already a shareholder in the Kalashnikov concern, and his company.Founded in 1807 in Izhevsk – 1,300 kilometers east of Moscow – the former Izhmash factory has undergone a series of upheavals since 2013 when Rostec merged it with another plant and renamed the umbrella company Kalashnikov after Mikhail Kalashnikov, who invented the AK-47 in 1947 .
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