Romanian state defense contractor Romarm expects 20% increase in exports

Romania’s defense contractor Romarm could see a 20% increase in exports in 2017, to USD 120 million, according to the company’s estimates, reports local Economica.net. About 80% of exports went to the US. The share of deliveries on the domestic market is expected to grow from 5% of the company’s turnover last year to 15% this year, Romarm general manager Gheorghe Stoica said. Local deliveries could thus amount to USD 20 million in 2017. Several factories run by Romarm have resumed their activity this year. The Fagaras powder factory has recently resumed work on the explosives segment after closing its activity in 2008. Romarm has 15 subsidiaries and 6,200 employees. It produces small ammunition for infantry, as well as rockets and artillery missiles. editor@romania-insider.com