IZHEVSK, May 31 (RAPSI) – The Kalashnikov Corporation, which will absorb major Russian small-arms makers, must be registered by September 19 when the country celebrates the Day of Arms Makers, RIA Novosti reports quoting Deputy Prime Minister Dmitry Rogozin.

Rogozin, who oversees the Russian defense industry, proposed a merger between Izhmash and Izhmekh, which are both located in the city of Izhevsk, in November last year. He later suggested that some other small-arms manufacturers should join the corporation under the famed Kalashnikov brand.

“We must set foot on a finishing line…and have the corporation registered as a legal entity by the time we celebrate the Day of Arms Makers in September,” Rogozin said on Thursday at a meeting on setting up the Kalashnikov Corp.

Rogozin stressed that at the beginning of its existence the new corporation will prioritize consolidation of weapon design ideas and modernization of production equipment.

The company will produce both weapons and ammunition for them, particularly armor-piercing and explosive rounds, Rogozin said.

Izhmash has been manufacturing Kalashnikovs since the world-famous assault rifle first went into mass production in 1949, while Izhmekh is best known for producing Makarov and Yarygin pistols.

However, both companies have been recently experiencing financial difficulties and a sharp drop in production output.

The government is now hoping to revive them by merging them under the new brand.

Mikhail Kalashnikov, the designer of the Kalashnikov assault rifle, has personally authorized the use of his name for the new corporation.