Bulgaria's VMZ to Manufacture Drones under Deal with Israel's Aeronautics Group
Bulgarian state-owned arms and ammunition manufacturer VMZ Sopot will start production of unmanned aircraft under an agreement signed with Israel's Aeronautics Group, Bulgaria's economy ministry said on Thursday. The agreement for cooperation and technology transfer will allow VMZ Sopot to launch production of drones under its own brand, as well as ensure their maintenance, the ministry said in a statement following a meeting of economy minister Emil Karanikolov with representatives of Aeronautics Group.The agreement is an important step in VMZ Sopot's strategy to enter the sector of new technologies, Atanas Bogdanov, chairman of the company's board of directors.Aeronautics Group is a global leader in designing and manufacturing of unmanned aircraft. It has over 70 customers worldwide, according to the statement.