Izhevsk Machinebuilding Plant or IZHMASH (ИЖМАШ) is a weapons and motor vehicle manufacturer based in Izhevsk, founded in 1807 at the decree of Tsar Alexander I, and is now one of the largest corporations in its field. It manufactures the famous Kalashnikov series of assault rifle, along with a host of other Russian arms, including medium cannons, missiles, and guided shells. Izhmash also produces other goods, such as motorcycles and cars. As of April 2012 the company was declared bankrupt. In November 2012, A proposal was made to merge Izhmash with Izhevsk Mechanical Plant (Izhmekh) under the new name "Kalashnikov". As of 13 August 2013, Izhmash and Izhevsk Mechanical Plant have been merged and formally renamed Kalashnikov Concern.