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Swiss Co Reichle & De-Massari Opens Hi-Tech Plant in Bulgaria

Business » INDUSTRY | October 3, 2012, Wednesday // 20:03| Views: 1549 | Comments: 0
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Bulgaria: Swiss Co Reichle & De-Massari Opens Hi-Tech Plant in Bulgaria

Swiss company "Reichle & De-Massari" has opened a hi-tech plant for design, manufacture and assembly of optic fiber components and platforms in the Bulgarian capital Sofia.

R&M's total investment in its Bulgarian high-tech factory for optical and copper components amounted to BGN 9.7 M, plus another BGN 8 M for purchasing the industrial building, the InvestBulgaria Agency said.

The new plant is located in the metropolitan area Hadji. By the end of 2012, it will be employing 100 people, and will be exporting its produce worldwide, explained the Agency, a government body.

Swiss Reichle & De-Massari AG, which provided the entire amount of the investment from its own resources, is one of the 500 largest companies in Switzerland, with trade organizations in over 30 countries, grouped in seven trading region.

In March 2008 R & M announced the acquisition of 100% of the Bulgarian distributor of copper and fiber optic cables, cabling and cabling components FriNet LTD.

The opening of the R&M factory in Sofia was attended by Bulgarian President Rosen Plevneliev, Swiss Ambassador to Bulgaria Regina Escher, InvestBulgaria Agency CEO Borislav Stefanov, and representatives of the Swiss investor.

"Bulgaria is repositioning itself on the path of investments," Plevneliev noted in his speech.

"If by 2008 the country mostly attracted investments in property and financial resources, today these segments only account for 15% of the investments, the remaining 85% being plants and machine technologies which open horizons to the future," Bulgaria's head of state declared.

He went on to say that he was proud to see the high-tech plant open in Sofia, adding that Switzerland had the most competitive economy and was a symbol of highest quality production on a global scale.

"As a result, our country is gradually turning into a little Switzerland," Plevneliev suggested.

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Tags: hi-tech, Reichle & De-Massari, Swiss, Switzerland, FDI, foreign investor, Foreign investors, FriNet LTD, optic cable, optic fiber, plant, factory, manufacturing, Rosen Plevneliev, Bulgarian President, InvestBulgaria Agency, Borislav Stefanov, Swiss Ambassador, Regina Escher
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