IAG will also build a plant for armored vehicles in Simitli

International Armored Group (IAG), a leading company in the global defense industry, chose the town of Simitli as the site of its second plant in Bulgaria. The plan there is to implement high-tech innovative production of over 100 models of specialized logistical combat and tactical vehicles - armored vehicles for the army, police, emergency medical aid, special forces, etc. The planned amount of the investment is 2.5 million euros, as a result of which 25 new jobs will be created.

Why Simitli?

The company's first Bulgarian plant in Burgas will open on October 1 this year. Initially, IAG was looking at Plovdiv and Blagoevgrad for its next production locations, but in the end, it chose Simitli instead of Blagoevgrad.

The reason is that the smaller town has an industrial zone, good administrative organization and its local investment policy is at a very high level, according to Anton Stefov, the CEO and owner of the International Armored Group. Speaking to simitli.info, he said:

I am originally from Blagoevgrad. I love my hometown, and I wanted to build my factory there. We had some attempts, but we did not succeed, because Blagoevgrad has not developed its investment policy yet and the attitude towards investors has not changed - it is still subject to changes and evolution."

A strategic step

The National Company of Industrial Zones (NCIZ), on whose land in Simitli the new plant will be built, stated that the establishment of this type of plant in Bulgaria is a strategic step in the national military industry of European significance.

This will be IAG's second investment in Bulgaria on industrial land purchased by NCIZ under the Investment Promotion Act. The company has an "Investor Class A" certificate, awarded as early as 2023 by the country’s government.

In March 2023, IAG broke ground on its plant near the city of Burgas on the site of the Industrial and Logistics Park - Burgas, where NCIZ is the majority shareholder. Come October, the production of over 160 types of specialized and combat equipment is set to begin there.

Founded by Bulgarian-Canadian Anton Stefov, International Armored Group is the first brand in the world to produce a special type of ballistic glass that provides the highest level of protection. IAG is also among the leaders in the production of fully protected armored cars worldwide. The company supplies specialized vehicles for international organizations such as the UN and NATO and has production bases in other countries such as the USA, the United Arab Emirates and Turkiye, plus there are offices in Great Britain and Pakistan in addition to Bulgaria.

Translated by Tzvetozar Vincent Iolov