Balkans | A French company is investing 15 million BGN in expanding a factory in Karjali

Home » Balkans | A French company is investing 15 million BGN in expanding a factory in Karjali
Balkans |  A French company is investing 15 million BGN in expanding a factory in Karjali

The French company Serta Bulgaria in Bulgaria has started commissioning the third extension of the Kardzhali plant.

According to the news in the Bulgarian BTA agency, Serta Bulgaria has invested 15 million BGN (157.1 million TL) by opening the third expansion of the Kardzhali plant. Expansion of the factory will create 100 new job opportunities.

Nikola Stoyanov, Minister of Economy and Industry of the provisional government of President Rumen Radev, said at the opening ceremony that the company is one of the many positive examples in the economic relations between France and Bulgaria.

Stoyanov said that the company became the second largest in the sector 20 years ago and employs 700 people today, “This investment is the most vivid evidence that the company’s development plans are linked to Bulgaria and the Karjali region.” He said.

Stoyanov stated that the value of the industrial sector is more than 11 billion levs, and most of the production is for export.

Serta Bulgaria has been operating in Bulgaria since 2003 when it bought the Bulgarian company Pnevmatika, founded in 1964.

Kardzhali Factory produces spare parts for agricultural and road construction machinery. Products produced at the plant are exported to Europe, Brazil, Argentina, China and the USA.

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