There are Bulgarian manufucatured Arsenal AK's, and American assembled (Las Vegas Nevada) Arsenal AK's (ARSENAL INC). The American built AK's use a combination of Bulgarian parts and US manufactured parts. The US built AK's can be had with either stamped or milled recievers.
I purchased a US built Arsenal under-folder AK with the milled reciever last year, and paid a pretty high price for it. A buddy had one just like the one I eventually purchased , and I was convinced that the build quality and tighter assembly tolerances made it a better quality weapon, so I was willing to pay the price (about 2 X what I could buy a low end AK for at the time).
I have two AR's, a 1980's vintage Colt SP1, and a brand new RRA Elite Comp. My Arsenal AK is not as accurate as my AR's, but I did not expect it to be. However, I am a mechanical engineer, and I do appreciate good build quality and tighter tolerances, so I was prepared to spend the extra $$ on the AK.
I am very satisfied with the US made Arsenal, and I think that the extra money was well spent. Lately, I have "helped" two co-workers find and purchase AK's. Obviously in today's environment, their selections were highly influenced by "what they could find". One purchased a Yugoslavian built AK, and the other purchased a Bulgarian built Arsenal (both with stamped receivers). IMHO, the Bulgarian built Arsenal AK looked and felt like a "tighter" rifle than the Yugo. The Yugo AK seemed to me to be a bit sloppy in feel and fit-up. Neither of these guns "felt" as tight or "solid" as my miller reciever US built Arsenal. However, I did not spend much time with either rifle, other than "teaching" the new owners how to shoot and clean them.
However, neither myself or my two co-workers bought our AK's with the intent of shooting sub-MOA groups at 100 yards. That's what the AR's are for. My two co-workers paid 1/2 (Yugo) to 2/3rds (Bulgarian Arsenal) of what I paid a year ago for my US built AK.
In summary, all parties (myself included) are very satisfied with the AK's that we now own. A cheaper (and maybe a bit sloppier) AK will do the job that it ws intended to do. If you are a bit anal about quality and fit-up (as I am) then you can work your way up the chain and pay more money for what suits you.
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