Kalashnikov Firing on All Cylinders Despite U.S. Sanctions
Russian arms dealer more than doubled revenue in 2016 and is expected to do it again this year.
Employees at Kalashnikov must be fired up. Since last year, the Russian arms company has seen more than double-digit revenue growth, according to the Wall Street Journal. And that’s despite U.S. sanctions, which began in 2014.
The company can thank its major uptick in sales to expanded opportunities in Asia and Africa—and other countries looking to modernize their militaries and ally with the Russians.
Per the Journal, that’s translated into growth to the tune of $300 million, and business is forecast to double again in 2017.
If you’re wondering about Kalashnikov’s most famous piece, the AK-47, the company has long since retired it from the production line. But as the Journal notes, “its latest assault rifles retain the same selling points [as the AK-47]: simplicity and reliability even in the most unforgiving environments, and at a cheaper price than competitors.”
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