The most famous arms manufacturer in the world is diversifying into the shipyard business.
Russia’s Kalashnikov has announced it will acquire Upper Volga ship repair and construction operator Nobel Brothers early next year. The yard specialises in the construction and repair of tankers, bulkers, yachts, and survey vessels.
In the past couple of years Kalashnikov, most famous for its AK-47 assault rifle, has bought two other Russian yards – Rybinsk and Vympel – both of which tend to focus on smaller ships with a greater military focus.