Burkan Munitions Systems has secured a credit facility worth $272.3 million, Reuters reports. The loan has been obtained to expand the company’s production lines and upgrade its ammunition testing lab. The credit facility for Burkan Munitions was arranged by First Gulf Bank in November 2010. The Abu Dhabi-based ammunition maker was set up in 2008 as a joint venture between Tawazun Holding and Rheinmetall Waffe Munition.
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