Kintex

Bulgarian Arms Manufacturer with Unprecedented Revenues for the first 6 months of 2023

For the first half of 2023, the net sales revenue of the state-owned "Vazovski Mashinostroitelni Zavodi" (VMZ) in Sopot increased by nearly 80% and reached 392 million leva, writes "Capital" and adds that this was driven from the increased demand for special production due to the war in Ukraine.

Bulgaria: The Ministry of Economy will Unblock Arms Exports for BGN 1 Billion

The Ministry of Economy will unblock arms exports for BGN 1 billion (EUR 510,648,536). This was announced by the caretaker minister, Nikola Stoyanov, at a press conference.

According to him, the arms industry is currently "on its knees" due to delays in export approvals. The previous minister, Kornelia Ninova, did not convene a committee to approve eligible export requests.

Ex-Head of Bulgarian Weapons Company: In 4 months, 4200 tons of Weapons were Exported with the Signature of Ninova

"Just in the first 4 months after the start of the war in Ukraine, 4,200 tons of weapons with the signature of Kornelia Ninova were exported, unloaded at the Rzeszow airport in Poland, 70 km away. from the Ukrainian border."

This was stated by the former head of "Kintex" Alexander Mihailov at a media briefing.

The Weapons in Ukraine are the same as those Exported from Bulgaria

"Kintex has never exported weapons to Ukraine or Poland and the Czech Republic, which are believed to be transit points to Ukraine." This was said to Nova TV by the removed director of "Kintex" Alexander Mihailov.

"But the weapons we see being used in the fighting in Ukraine are the same ones being exported from Bulgaria," he said.

Bulgarian Govt Proposes to Ban Sale of Two Key Arms Firms

The Bulgarian government has proposed to ban the sale of arms manufacturer VMZ-Sopot and arms trader Kintex on account of their major importance for national security.

Draft legislation to put the two wholly-state owned companies on the list of enterprises banned for privatisation would be submitted to parliament for approval, the cabinet decided at a weekly meeting on Wednesday.

Bulgaria Socialists Oppose Sale of Arms Firms

Two of Bulgaria's major state-owned arm companies, the producer VMZ-Sopot and the exporter Kintex, are to be privatized over the next three years, according to a mid-term economic forecast of the Ministry of Finance.

The privatization plan foresees selling VMZ-Sopot, which is the biggest arm producer in Bulgaria, in 2018, and Kintex in 2019.

Bulgaria Security Agency Inspecting Arms Trader

The State Agency for National Security (DANS) is conducting an inspection at Kintex, a state-owned company dealing with weapons trade, the Bulgarian National Radio has said.

Short of being a perquisition, the activities carried out at Kintex are related to deals done by the company, the public broadcaster quotes DANS sources as saying.

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