News Guide Bulgaria Economics and Business

Shoumen: Shumen-based Carlsberg brewery starts again after temporary winter break

Thu, 07 Mar 2013 13:45:00 GMT

Carlsberg brewery, based in Shoumen starts work again. After a temporary cease of production in the winter period the brewery started boiling and bottling of popular beer brands under the name of Shoumensko Premium Malt, Shoumensko Svetlo and TUBORG. I...

Breznik: Colossal project for extraction and processing of gold containing ores near Breznik

Thu, 07 Mar 2013 13:31:00 GMT

A colossal project for development of Breznik is due to come true, after the investment proporal of Thrace resources for extraction and processing of gold containing ores was approved by the Regional inspectorate of environment and water- Pernik . The de...

Shoumen: Shumen municipality may terminate contarct with Israeli company for heating utility Toplofikatsia Shumen EAD

Thu, 07 Mar 2013 13:28:00 GMT

Bulgaria`s Shumen municipality has warned the executive director of Israeli company Telemania that it will terminate the privatization contract for heating utility Toplofikatsia Shumen EAD at one month`s notice. The Israeli company has violated its oblig...

Bulgarian ski resort operator Pamporovo raises its capital to BGN 1.61 million

Fri, 22 Feb 2013 15:33:00 GMT

Bulgarian ski resort operator Pamporovo plans to raise its capital to BGN 1.61 million from the current BGN 1.08 million. The company plans to issue 538,050 new shares with a nominal value of BGN1.0 and sell them at a price of BGN 3.0 each. The decisio...

Peshtera: Vinprom Peshtera JSC is amomg the largest taxpayers in Bulgaria

Wed, 13 Feb 2013 15:37:00 GMT

Nearly BGN 70.5 million were submitted to the Treasury by Vinprom Peshtera JSC in 2012, which for the tenth consecutive year lead the company to the leading position among the largest taxpayers in Bulgaria. The leader producer of alcoholic beverages paid...

Shkorpilovtsi: The government terminated concession contract for the sea beach Shkorpilovtsi - north

Wed, 13 Feb 2013 15:33:00 GMT

The government is to terminate unilaterally concession contract with Black sea holidays OOD for the sea beach Shkorpilovtsi -north. The concessionaire did not provide water rescue, which is obligatory under the Law for development of the Black sea coast ...

Sofia: ABB Group reorders its organizational structure - merged units in Varna, Sevlievo and Rakovski

Tue, 12 Feb 2013 11:09:00 GMT

ABB Group has merged its Bulgarian corporate units in order to improve the synergy of the processes and activities, as well as of the functions and policies. This adjustment is also leading to the centralization and optimization of the organizational struc...

Plovdiv: German Mecalit redirects its clients towards its Plovdiv-based factory

Fri, 08 Feb 2013 13:14:00 GMT

German Mecalit, which opened a factory near Plovdiv in September 2012, redirects its Southern European clients towards the Plovdiv-based capacity. The reason the German company to invest nearly EUR 7.5 million via its Bulgarian subsidiary is that the inv...

Targovishte: In Q4 of 2013 Trakya Cam will launch second production line in Targovishte

Thu, 07 Feb 2013 16:08:00 GMT

Trakya Cam, the flagship company of Turkish glassmaker Sisecam, will launch flat glass manufacturing from the second production line at its Bulgarian plant by the fourth quarter of the year. The second line at the company’s Bulgarian glass plant, located...

Bratsigovo: The government terminated concession for the mineral water spring in Bratsigovo

Thu, 07 Feb 2013 13:04:00 GMT

Bulgaria’s government has terminated the 35-year concession on a mineral water spring at the Bratsigovo site granted to local company First Financial. The concession contract was cancelled due to First Financial’s failure to fulfil key obligations under ...

TV and media group "Bulgaria on air" in partnership with Bloomberg

Tue, 05 Feb 2013 11:03:00 GMT

Bulgaria`s business TV and media group Bulgaria on air and the US giant for business and finance news Bloomberg announced they have inked a contract for partnership. Under its terms the leading global business and finance channel Bloomberg Television becom...

4 major telecoms are candidates to buy Bulgarian mobile operator Globul

Mon, 04 Feb 2013 13:07:00 GMT

4 major telecoms companies are competing to buy Bulgarian mobile operator Globul in a deal expected to be worth about EUR 700 M. Globul is controlled by OTE, Greece`s biggest telecoms operator, which plans to sell its Bulgarian unit as well as satellite un...

Litex Commerce wants to expand its business towards Greece

Mon, 04 Feb 2013 13:02:00 GMT

The biggest player in the sugar business in Bulgaria - "Litex Commerce" shows interest in expansion of its business towards Greece. Now the company is a candidate for purchase of the sole producer of sugar in Greece. The Bulgarian company handed out one ...

Rousse: German car parts manufacturer builds new factory in Ruse

Fri, 01 Feb 2013 10:40:00 GMT

" German company dealing with the production of car parts WITTE Automotive intends to build a factory in the city of Ruse ," stated Plamen Stoilov - mayor of city of Ruse . Representatives of the company have already presented their project before the l...

Varna: Picadilly purchases business of its competent - Varna chain Mandarin

Wed, 30 Jan 2013 11:15:00 GMT

Owner of stores Picadilly-the Belgian Delhaize Group purchases business of its competent Varna chain Mandarin. The deal is for separate shops, not for the brand or the whole company. 8 sites, located both in Varna and Sofia are to be transferred, whi...

Vidin: The dairy products company LB Bulgaricum EAD moves its production base from Sofia to Vidin

Fri, 18 Jan 2013 12:00:00 GMT

State-owned dairy products company LB Bulgaricum EAD will move its production base from Sofia to Vidin in a bid to stimulate the economy in Bulgaria`s northwestern region. LB Bulgaricum would only keep the production of starter cultures and cultures ...

Dupnitsa: French company intends to build a high-tech park in Dupnitsa

Fri, 18 Jan 2013 11:56:00 GMT

A French company will bring to the town of Dupnitsa , south-westernern Bulgaria , big European and world famous companies. The investor will open offices for distinguished companies in a new high-tech park. The French company want to buy 4 ha of munici...

3 candidates for developing of the digital TV network in Bulgaria

Wed, 16 Jan 2013 18:27:00 GMT

Three companies have applied for participation in the development of the digital television network in the country. These are: - Bulsatcom; - DVBT - Dynamics LTD. Since the candidates are more than one, the CRC is to make a decision on the invitation of...

The 7th annual awards of InvestBulgaria Agency for projects in 2012

Wed, 16 Jan 2013 18:23:00 GMT

8 companies were awarded for projects in 2012 at the seventh annual awards of the InvestBulgaria Agency (IBA). Last year this number was 5. Growth of investment were reported by the data of BNB as well. From EUR 1 billion in 2010, they have risen to EUR ...

Bulsatcom is the 4th mobile operator of Bulgaria after M-Tel, Globul and Vivacom

Tue, 15 Jan 2013 18:20:00 GMT

Bulgarian satellite operator Bulsatcom has been awarded a mobile operator license by the country`s Communications Regulation Commission. Bulsatcom has thus become the fourth licensed mobile operator in the country after M-Tel, Globul and Vivacom. Bulsatc...

Dupnitsa: Chinese Company BYD plans to open a factory for electric buses in Dupnitsa

Tue, 15 Jan 2013 18:16:00 GMT

Chinese Company BYD opened an electric vehicles factory in town of Breznik ( Pernik district ), in December 2012. Now they are planning to build another such facility in the southwestern Bulgarian town of Dupnitsa . Ivaylo Konstantinov, chairman of th...

Sopot: Workers of military plant VMZ-Sopot on protest

Sun, 13 Jan 2013 18:14:00 GMT

Workers with Bulgaria’s VMZ-Sopot military plant are readying to continue their protest on Monday, January 14, the trade unions announced. VMZ workers will gather in front of company’s management office at 8:10 a.m. to stage their latest protest. Bulgari...

Sozopol: Camping Kavatsite near Sozopol put up for sale due to its owners outstanding liabilities

Wed, 16 Jan 2013 18:09:00 GMT

The cult camping Kavazite near Sozopol , owned by Helio Tours S businessman Nicholas Banev, was brought to a public auction due to its owners outstanding liabilities. The picturesque 35 acres plot’s upset price was estimated at BGN 1.3 million. Besides ...

Silistra: SunOpta Inc acquisited a value-added grains handling and processing facility in Silistra

Sat, 12 Jan 2013 18:04:00 GMT

SunOpta Inc. has completed the acquisition of a value-added grains handling and processing facility located in Silistra , Bulgaria. The facility is currently a strategic supplier for SunOpta, producing value-added sunflower kernel, oil and related by-prod...

Vratsa: Italian company invests EUR 15 million in a plant for ball valves in Vratsa

Sat, 12 Jan 2013 18:01:00 GMT

Italian company O.M.S. Saleri Eastern Europe moisture 15 million euros in a plant for ball valves in Vratsa . The total investment will be utilized in the next six years. The company launched the first phase of production, hiring and training hundreds o...