5.56x45 mm and 7.62x39 mm AR-M52F - Arsenal JSCo. - Bulgarian

Assault Rifles - Arsenal JSCo. - Bulgarian manufacturer of weapons and ammunition since 1878

Arsenal JSCo. - Bulgarian manufacturer of weapons and ammunition since 1878

Arsenal JSCo. - Bulgarian manufacturer of weapons and ammunition since 1878

NQM] Defense industry companies (Part 2) - Bulgaria. Revenue for 2017 was €1.219 billion. : r/AskBalkans

One of the photos posted by the - MaxDefense Philippines

5.56x45 and 7.62x39 mm AR-M2T - Arsenal JSCo. - Bulgarian manufacturer of weapons and ammunition since 1878

5.56x45 mm and 7.62x39 mm AR-M52F - Arsenal JSCo. - Bulgarian manufacturer of weapons and ammunition since 1878

Арсенал АД – BDIA

Arsenal JSCo. – BDIA