Bulgarian-owned Bogdan inaugurates HUF 430 mln vazeline plant

Recycling

Bogdány Petrol, a maker of paraffine, vax and oil-based specialty products, inaugurated a HUF 430 million vazeline manufacturing plant in Nyirbogdány on Tuesday. Bogdány Petrol, 92% owned by the Bulgarian company Prista Oil Group, has won HUF 143 million in grants for building and equipping the plant. Construction started in October 2011 and ended in February this year. Bogdány Petrol has annual capacity of nearly 100,000 tonnes, exports 95% of its products to 66 countries and currently employs 82. Bogdány Petrol had consolidated net loss of HUF 7 million on revenue of HUF 7.71 billion in 2011.

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