TEREM Holding

State-owned MRO group for Bulgarian Army aircraft, ships and armoured vehicles.

TEREM-HOLDING EAD is the Bulgarian Ministry of Defence's wholly state-owned maintenance, repair and overhaul group, successor to the army's Military Repair Bases and Plants organisation established in 1965 and restructured as a commercial company in 1989. From Sofia it directs five subsidiaries covering Mi-8, Mi-17 and Mi-24 helicopter overhaul, naval repair at the TEREM Shipyard Flotski Arsenal in Varna, and overhaul of armoured vehicles, armaments and optics. The group employs 501 to 1,000 people, with more than 450 at the Varna shipyard alone.