Rus News Journal

Farewell, the weapon: Bulgaria sells one of the largest companies

Bulgaria has exposed on sale of 100 % of actions of the manufacturer of the weapon largest in the country - Vazovski Mashinostroitelni Zavodi (VMZ). Demands from interested investors will be accepted to the middle of December 2012., follows from Agency materials on privatisation of state property of Bulgaria.
meanwhile to participation in the privatisation tender strategic investors who should correspond to a number of serious requirements are supposed only. So, applicants should work in military - industrial sphere and to possess the rights to export, import and weapon transfer. The sales volume of the applicant for last three fiscal years should make not less than 120 million levov (60 million euro).
In the meantime, under messages of the Bulgarian mass-media, privatisation VMZ can not take place from - for depressing financial conditions of the weapon company. Under the informal data, its debts make from 100 to 150 million levov (51 - 76 million euro). Besides, to workers VMZ regularly detain the salary.
VMZ, located to Sopot, has been put in 1936. And originally made manual pomegranates, cartridges and gun shells. Now at the enterprise anti-tank and aviation rockets are issued, artillery shells, detonators of minute In assortment VMZ are also civil production: abrasive disks, gas bags, the equipment for the food-processing industry, household appliances. The general staff of workers - 3,7 thousand persons. The financial reporting of the enterprise represents the state secret.