site.btaDefence Ministry Resolves Dispute with Airbus Helicopters

Sofia, May 23 (BTA) - Defence Minister Krassimir Karakachanov and Serge Durand, Vice President of Airbus Helicopters on Wednesday signed an agreement to resolve an arbitration dispute with regards to a 2005 contract for the acquisition of Cougar and Panther helicopters, the Defence Ministry said.

Under the agreement, the French company will provide strategic investments in Bulgaria to build a plant for the high-tech products for Airbus aircraft. First ground has already been broken, In the first three years the factory will employ up to 300 people which may reach 800 in the next eight years. In addition Airbus Helicopters will provide one Dauphin helicopter to the Bulgarian Navy.

Attending the ceremony was French Ambassador here Eric Lebedel.