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

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)