The state factory ammunition VMZ Sopot, in central Sopot Bulgariatoday announced a record net income of BGN 828 million for 2023, double that of 2022.
The factory is seeing an increased demand for its products. There are plans to increase its capacity using new technologies and lines, with fixed asset spending exceeding BGN 20 million.
The VMZ Sopot plant manufactures Soviet-style ammunition, shells and missiles, which are bought by NATO countries.
The factory’s order books are full for the next two years.
Its revenues and profits are expected to increase in 2024 as well.
The workforce grew by nearly 500 employees to number more than 4,100 in 2023. The plant is the largest employer in the area and attracts many interested job seekers.
Source: RES-MPE
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