VMZ Sopot

"In recent weeks, the issue of arms exports to Ukraine has been used harshly. An accusation has been made that we speak one thing in public and do another behind the scenes. And while we claimed that we did not export a single cartridge, they claimed that tons of weapons for billions of levs were sold at night with intermediaries".

State-owned Bulgarian arms producer VMZ Sopot has signed a technology transfer contract with Israel's Aeronautics, allowing VMZ Sopot to start producing unmanned aerial vehicles (UAV), the economy ministry said on Thursday, reports Reuters. 

The CEO of Bulgaria's state-owned military plant VMZ Sopot, Ivan Stoenchev, has resigned.

Stoenchev left the General Assembly of VMZ Sopot of his own accord and his resignation was accepted by the members of the panel, according to sources close to the matter, as cited by the Focus news agency.

Trade union representatives have vowed that the production process at the explosion-stricken Iganovo site of Bulgarian military plant VMZ Sopot will start in a week's time.

Bulgaria's largest arms factory, VMZ Sopot, has registered a threefold y/y increase in sales revenues in Q2, 2014, according to a report published by the Finance Ministry.

According to the report, sales revenues of the state-owned military plant increased from BGN 10.8 M by June 30, 2013, to BGN 33.5 M for H1, 2014.