“Beretta” “targeting” Serbian market

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Italian weapons manufacturer “Beretta” is interested in cooperation with the Serbian defence industry, particularly with companies “Zastava oruzje” and “Prvi partizan”, Vecernje novosti daily reports.

“Beretta” could also be the first foreign partner to invest money in Serbian military plants, according to the new Law on Production and Trade of Weapons.

Not only cooperation, but investment and equity participation as well.

For a long time the Italian company has been interested not only in cooperation, but investments and ownership stake in Serbian defence industry, which was announced last year during the visit by Defence Minister Aleksandar Vulin to Italy.

The owner of the Italian company Franco Beretta has also resided in Serbia recently, paying a visit to Kragujevac based “Zastava” and Uzice based “Prvi partizan” with a group of associates, and guests from Italy were also presented with possibilities for cooperation with the Military Technical Institute of the Ministry of Defence. The daily newspaper also reminds that amendments of the Law on Production and Trade of Weapons enabled foreign investment in state-owned companies of the defence industry, but up to 49 percent of the value of capital.

State has determined a limit, according to which a foreign investor cannot have more than 15 percent of shareholding capital in armament and ammunition plants. Foreign investors are mostly interested in domestic plants in which facilities small arms and the associated ammunition is produced, Vecernje novosti daily reports.

Source: Večernje novosti

Photo: youtube