Turkish Company Sarkuysan will Invest BGN 17 Million in Shumen Auto Parts Factory

Business | September 23, 2018, Sunday // 15:41| Views: | Comments: 0
Bulgaria: Turkish Company Sarkuysan will Invest BGN 17 Million in Shumen Auto Parts Factory

A division of the Turkish giant Sarkuysan will invest in a new plant for the production of electric cables in Bulgaria. This morning the company received an investment certificate "A" from the Minister of Economy Emil Karanikolov.

SARK Bulgaria will invest 17 million leva in a factory near Shumen, opening 40 new jobs. The factory will produce electrical cables, mainly for the automotive industry, as well as special wires that are widely used in the aviation and defense industries. The factory, which is planned to be built in the industrial zone of Shumen, will have a total area of ​​69 000 sq.m., will be equipped with environmentally friendly modern machines, fully in line with the modern technical requirements.

The production and administrative buildings will occupy about 7400 square meters. The plant is expected to start work in around five years.

Turkish group Sarkuysan, valued at € 88.5 million on the Turkish Stock Exchange, was founded in 1972 in Istanbul and is the first successful public company. About half of Europe's light and light commercial vehicles use Sarkuysan cables. The company also sells to NASA suppliers.

Business » Be a reporter: Write and send your article
Advertisement
Advertisement
Expats.bg All Are Welcome! Join Now!
Please, log in to post a comment.
» To the forumComments (0)
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria