Kayo will produce military uniforms, 15 million euro investment and 400 jobs
The Council of Ministers has approved this Wednesday a decision that paves the way for the state -owned company « Kayo » sh.a., to negotiate with private society for the creation of a joint joint stock company that will focus on the production and marketing of military uniforms and other accessories for the Armed Forces and security structures in the country.
According to the decision, « Kayo » sh.a. It will hold at least 40% of the shares in the new society and will contribute an area of at least 20,000 m² to real estate, which will be used by a common company without the right of alienation.
The private party, on the other hand, should commit to a minimum investment of 15 million euros within a 3-year period, as well as ensuring the employment of at least 400 employees and the provision of modern production lines. It is foreseen that Kayo will have the right to appoint the administrator to be agreed, at least 30% of the members of the Governing Council or Supervisory Council and the right of veto in key decision -making, in accordance with Law no. 88/2024.
The physical safety of staff and infrastructure will be guaranteed by the Armed Forces under the Law on the Armed Forces Command Authorities. In conclusion, the new company will be authorized to supply the Armed Forces with relevant uniforms and equipment, paving the way for closer cooperation between the public and private sectors in the defense industry.
