site.btaVMZ Ordnance Plant Refutes Economy Minister’s Allegations of Losses

In a press statement, the management of the state-owned VMZ Sopot ordnance plant refuted an allegation of caretaker Economy and Industry Minister Nikola Stoyanov that “VMZ Sopot’s economic situation has deteriorated and the plant’s losses for the last two months amount to over BGN 100 million”. Stoyanov made the claim on the Bulgarian National Television.

VMZ Sopot’s new board of directors said that it has taken over the management of the company at the beginning of June and the half yearly report shows a profit of BGN 48 million. In addition, in June and July, the plant repaid debts of over BGN 35 million, as well as dividends of BGN 1 million to the State Consolidation Company.