Ivan Stoenchev

Over the last year, Bulgaria has earned 1.6 billion leva from the export of military products, Minister of Economy Bogdan Bogdanov announced to bTV.

Dimitar Atanasov, trade union representative at Bulgarian state-owned military plant VMZ Sopot, has said that workers plan to stage a protest to demand pay rises and streamlined operations.

Bogdan Bogdanov is the new CEO of Bulgaria's state-owned military plant VMZ Sopot and Todor Dichev has been appointed Chair of the Board of Directors of the company.

The top-level reshuffle was confirmed by Economy Minister Bozhidar Lukarski on Friday.

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.

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.