Ammo consolidation in Russia
A wealthy Russian businessman with close links to president Vladimir Putin has acquired a 46% stake in Tula Cartridge Works.
Igor Rotenberg signed a deal with Alexi Solovyov, the former president of the plant that will see him implement new policies to increase the production of ammunition for the domestic and export markets.
The Rotenberg family is one of the richest in Russia and is taking advantage of the fact that the Tula factory is not on the EU or US sanctions list and has long-term contracts to supply its products into the western markets.
The deal may make
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