Palfinger to invest about €30 mln in a factory in Bulgaria

Food

Until the end of 2008 Austrian machine-building company Palfinger was expected to complete its second large investment project in Bulgaria, managing director of Palfinger Bulgaria Goran Starchevich announced.

Construction of the new cylinder factory near the Yambol village of Tenevo was at an advanced stage, Dnevnik daily reported. Investments in the factory were estimated at €25-30 million ($36-43 million). The world leader in hydraulic lifting manufacturing has been operating in Bulgaria for 8 years. It started by producing part of the metal bodies of the machinery of the former Beta military factory in Cherven Bryag . Since then the company’s production increased several times and the personnel grew from 150 to 500 employees, manager of Palfinger’s Bulgarian division said.

Since 2002 Palfinger transferred in Bulgaria its cylinder production, the cylinders were made in the workshop of the former Sila (Power) machine-building factory near Tenevo. Starchevich commented that the opening of the new factory in 2008 would double the company’s cylinder production capacity. Demand of Palfinger’s products in Western Europe is very high and is expected to continue to increase. 30% of the production is sold in Spain. Other big markets are those of Germany, France, Canada, etc. (sofiaecho.com)

ADVERTISEMENT

Business confidence edges up as consumer sentiment weakens Analysis

Business confidence edges up as consumer sentiment weakens

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.