Bulgarian company Samel-90 and UAE-based International Armored Group (IAG) have opened a manufacturing facility to produce various types of armored vehicles in the town of Samokov, Bulgaria.
According to a statement of the Samel-90 company, The new production was officially opened on May 22 in the territory of Samel-90 in the presence of high ranking government officials, military personnel, defense industry and other VIP guests including the Deputy Minister of Economics, Mr. Luchezar Borisov, Deputy Minister of Defence, Mr. Anatoly Velichkov, the Chief Defence Advisor to the Prime Minister of Bulgaria, Gen. Anyo Angelov as well as the Mayor Mr. Vladimir Geodrgiev.
Samel-90 and IAG join their efforts in the development and production of new products for the needs of the Bulgarian army and police, as well as for the needs of the international market.
The new jointly company has been called the Samarm. The Bulgarian ministry of Economy announced on 22 May that the local company Samarm has invested 5 million levs ($3.0 million/2.6 million euro) in a plant for the production of armored vehicles. Samarm is a 50/50 joint venture of the Bulgarian companies Samel-90 and International Armoured Group BG.