The Molnija  watch factory was opened on November 17, 1947. The company's main customer was then the Soviet Union Department of Defense, providing them with wristwatches, pocket watches and table clocks. Unique clocks were also produced specifically for use in Soviet tanks, fighter aircraft, submarines and, eventually, spacecraft.

Molnija's main product is mechanical pocket watches with military, religious and historical motifs. About 80% of the work on most of the watches is done by hand. Some Molnija movements are used in oversized men's wristwatches.

The company ceased production in October 2007. However, new Molnija pocket watches are still available on the market (presumably old stock) and typically sell for between $200 and $300

The Molnija movement is basically a copy of a Cortebert movement as used e.g in Rolex watches from around 1940. The Russians improved accuracy of the movement quite a bit when they upgraded it to their 18 jewels version of the movement but the basic design remained the same until the closure of the factory in 2007. In other words the Molnija movement was originally a Swiss Cortébert movement. A high quality movement. 

This is the 18 jewels watch!! Very Rare.