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Wed, Feb 08 2012
Chinese car maker Great Wall to start production in Bulgaria by end-2010
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Chinese car manufacturer Great Wall will start production of off-road vehicles in the northern Bulgarian town of Lovech by the end of 2010, Chinese news agency Xinhua reported, quoted by website investor.bg
Great Wall Motor signed an agreement with Litex Motors worth 80 million euro on November 15 2009, under which the Chinese car maker will pay $4 million for its stake in the joint venture that will make sport utility vehicles that would be sold at a price of less than $15 000.
As China’s first private automobile enterprise listed on the Hong Kong Stock Exchange, the company has more than 30 subsidiaries and more than 22 000 people on its payroll. Great Wall Motor now manufactures sedans and sports utility vehicles and pickups, with an annual capacity of 400 000 complete vehicles.
The company has anticipated on exporting production in Eastern Europe since 2006, and the Litex Motors deal signed in November 2009 can be seen a cornerstone in future expansion in southern Europe. The total output of its Bulgarian joint venture remains as yet undisclosed.
Previously British car manufacturer Rover was contemplating on shifting production of their Maestro and Montego ranges to Varna, an investment which at the time was estimated at $20 million, with an annual output of 10 000 vehicles. Subsequently, Rover Group which owned 51 per cent of the shares and the Bulgarian Daru Group with 49 per cent commenced operation in 1995.
The vehicles manufactured in Bulgaria, however, were perceived to be poorly marketed and overpriced, and the Rover Maestro scheme in Bulgaria eventually collapsed on April 4 1996 with only 2200 vehicles produced.
Great Wall Motor signed an agreement with Litex Motors worth 80 million euro on November 15 2009, under which the Chinese car maker will pay $4 million for its stake in the joint venture that will make sport utility vehicles that would be sold at a price of less than $15 000.
As China’s first private automobile enterprise listed on the Hong Kong Stock Exchange, the company has more than 30 subsidiaries and more than 22 000 people on its payroll. Great Wall Motor now manufactures sedans and sports utility vehicles and pickups, with an annual capacity of 400 000 complete vehicles.
The company has anticipated on exporting production in Eastern Europe since 2006, and the Litex Motors deal signed in November 2009 can be seen a cornerstone in future expansion in southern Europe. The total output of its Bulgarian joint venture remains as yet undisclosed.
Previously British car manufacturer Rover was contemplating on shifting production of their Maestro and Montego ranges to Varna, an investment which at the time was estimated at $20 million, with an annual output of 10 000 vehicles. Subsequently, Rover Group which owned 51 per cent of the shares and the Bulgarian Daru Group with 49 per cent commenced operation in 1995.
The vehicles manufactured in Bulgaria, however, were perceived to be poorly marketed and overpriced, and the Rover Maestro scheme in Bulgaria eventually collapsed on April 4 1996 with only 2200 vehicles produced.
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Lyubov Kostova was appointed country manager of British Council Bulgaria effective January 1, replacing Tony Buckby, who left in October 2011 to take a similar position at British Council Greece. Kostova has been with British Council Bulgaria for 11 years, as public communications manager and, since 2008, as the head of project and partnerships department. Prior to joining the British Council, Kostova was head of international activities at the National Academy for Theatre and Cinema Arts (NATFIZ). She has a degree in Indian studies from Kliment Ohridski Sofia University.
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Valentina Dikanska is the new general manager of chemical industry giant BASF subsidiary in Bulgaria, taking over from Herbert Fisch, BASF vice president for Southeastern Europe. Dikanska, who started her career as an expert in the Finance Ministry, joined BASF Bulgaria as director of finance and administration in 2002. She becomes the first Bulgarian to hold the top management position in the company in its 40-year history on the Bulgarian market. Dikanska holds a master's degree in economics from the University for National and World Economy in Sofia.
Rompetrol Bulgaria
Alexander Albin has been appointed chief executive of fuel distributor Rompetrol Bulgaria, replacing Nichita Sorin, who left to become chief executive of Rompetrol Gaz in Romania. Albin was previously chief executive of Rompetrol Georgia. He has more than 15 years of experience in the oil and gas industry; prior to joining Romania's oil group Rompetrol in 2008 as an adviser, he oversaw operations at Atyrau refinery in Kazakhstan, owned by Rompetrol's parent company KazMunaiGaz. He previously held top management positions at two other leading Kazakh oil and gas companies.
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its very nice modal for koreans ..................
The Koreans had the same problems at the beginning.
That'll pass.
Positive stuff for Bulgaria and hopefully this project will establish that the Rover debacle was an aberration.
As a matter of interest, Great Wall utes are sold new in New Zealand and Australia, providing a cheap alternative to the indigenous Fords and Holdens. But they've been slammed in crash-testing, getting the lowest possible ratings for surviving frontal impacts ...