Romarm’s main destinations were the United States of America and several Middle Eastern countries. The exports are a bit below the budgeted target, $100 million. The Economy Ministry says is it too early to provide a forecast of next year’s exports, but boosting production is a priority for Romarm.
“Boosting production volume of its branches remains a priority for national company Romarm,” the Economy Ministry said.
Romarm makes tanks and armored vehicles, infantry weapons and ammunition, artillery systems, rockets and missile systems and explosives. The company signed $262 million worth of multi-annual export contracts last year.
Economy Ministry said in early October that Romania’s defense companies got weapons and ammunition contracts worth $215 million in the first half, which are enough to keep them busy until 2019 and some of them even operating at capacity.
Romarm posted 104.3 million lei (EUR23 million) revenue and RON0.3 million net profit in 2014, according to the Finance Ministry data. (EUR1=RON4.5163)
(English version by Loredana Fratila-Cristescu)