Fri, Feb 10 2012

Company Briefs

Fri, Feb 22 2008 19:00 CET

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NEW JOINT COMPANY
Bianor Services (BS) and the Germany company Techni Data (TD) signed a frame agreement to establish a new joint firm Techni Data Labs Bulgaria OOD (TDLB). BS will be the majority owner, with a 51 per cent stake of TDLB. The new company will focus on further development of products that are ecologically compatible that have already been developed by TD and used by more than 1300 companies in 59 countries worldwide. TDLB is expected to start local operations in March or April 2008 with a team of 10 people, which it is hoped will be increased to 25 by the end of the year. The firm will be managed by Michael Kol and Stefan Lilov, who is currently BS manager, will run the Bulgarian operations. TDLB expects incomes for 2008 to reach more than one million leva and to double in 2009. Thirty-one shares of TDLB were already traded on February 18 at price of 12.75 leva an issue.

BIO FUEL FACTORY
German company Fikon plans to build a factory for bio-fuels and bio-fuel derivatives (gas, methane, electricity) production in the north-eastern Bulgarian city of Turgovishte. The proposed investment will be $118 million. It is expected that 300 000 tons a year of raw materials will be needed for production, which will come from locally grown corn. Fikon will hire about 125 highly-skilled workers. The production will use environment-friendly technology. Turgovishte municipal economic development council approved the business offer as a high-tech class investment, which was also in accordance with agreements between Bulgarian and the European Union for bio-fuels production, UkrAgroConsult online said on February 19. The company plans to build the plant in 14 months.

AUSTRIAN COMPANIES IN BULGARIA
A growing number of Austrian companies are currently looking for investment opportunities in Bulgaria. Austrian commercial attache Michael Agerer said, on a recent visit to Gorna Oryahovitsa, that the areas outside Sofia had good potential for development for Austrian businesses. According to him, Sofia already had too many manufacturers, and they had a labour shortage. Investors were turning to other regions of Bulgaria. Countryside municipalities were providing new development concepts and the areas had a larger available workforce. Gorna Oryahovitsa, for example, was a communication and transport centre with many advantages for potential Austrian investment. The local sugar mill Zaharni Zavodi already had a joint venture with Vienna-based Agrana Zucker, while the bread plant Corn used Austrian technologies and Saubermacher provides waste-collection services in the municipality. For the past three to four years Austrian investments in Bulgaria have reached nearly three billion euro. The annual trade turnover between the two countries was about one billion euro, Business Media Group said on February 19

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