Arsenal AD (Bulgaria)

The Arsenal military plant specialises in production of small guns and a range of automatic assault rifles.
Its main product is the AK-47 assault rifle.
The firm, based in the town of Kazanlak, 300 kilometres east of Bulgaria's capital Sofia, also produces technological equipment, munitions, chemicals as well as hunting equipment.
In August 1999, Bulgaria's Privatisation Agency sold 51% in Arsenal for USD 2.1 million to its management and employee team.
Under the deal, Arsenal's buyer pledged to pay half of the price in government bonds or compensatory receipts in the next six months and the remainder in cash over the next 10 years, which includes one year grace period.
It has also pledged to invest USD 2.2 million over the next three years.
The state retained a 34% stake in Arsenal under a law envisaging for the government to keep a blocking stake in all plants working for Bulgaria's defense.
A total of 14% of Arsenal's capital was offered to its employees in non-voting shares, the remaining one percent was offered to pre-communist land owners as compensation.