Approval Secured for Stryker Combat Vehicle Ammo Purchase in Bulgaria
The Budget Committee in Bulgaria's National Assembly has given the green light for the acquisition of ammunition intended for Stryker combat vehicles
The Bulgarian "Vazovsky Machine Building Plants" (VMZ) in Sopot, a state-owned arms plant, has reported an astonishing twofold increase in net sales revenue and profits, surging past BGN 678 million in the first nine months of 2023, as detailed by "Capital." VMZ's production of Soviet-style ammunition, projectiles, and missiles, in high demand due to their use in the Ukraine conflict, has been the driving force behind this success.
This surge in demand has prompted plans for a capacity expansion, with an investment exceeding BGN 20 million this year. VMZ anticipates fulfilling orders worth an additional BGN 150 million by the close of 2023. Despite the substantial increase in profits, VMZ's liabilities have also grown by BGN 219 million in the first nine months, mainly due to advances received. Concurrently, the company's workforce has grown by nearly 500 employees over the past year, now exceeding 4,100 employees.
VMZ's rapid profit growth and expansion plans highlight its crucial role in meeting global defense needs.
The Bulgarian Ministry of Defense has reported a significant rise in the number of individuals interested in joining the military
A joint contingent of border security officers from Bulgaria, Austria, Romania, and Hungary will officially begin operations today
Bulgaria has officially received its first F-16 Block 70 fighter jet at a ceremony held at Lockheed Martin’s production facility in Greenville, South Carolina
Lockheed Martin is officially handing over the first of eight F-16 fighter jets to the Bulgarian Air Force
Bulgarian Defense Minister Atanas Zapryanov will travel to the United States for a three-day visit starting January 29
The Bulgarian Naval Forces have been maintaining a heightened state of readiness for mine countermeasures to ensure safe navigation in the country's maritime territory
Bulgaria's Perperikon: A European Counterpart to Peru's Machu Picchu
Bulgarians Among EU's Least Frequent Vacationers, Struggling with Affordability