Deutsche Bahn Bought the Wagon Repair Factory in Karlovo

Business | May 21, 2019, Tuesday // 07:54| Views: | Comments: 0
Bulgaria: Deutsche Bahn Bought the Wagon Repair Factory in Karlovo

The wagon repair factory in Karlovo is now owned by the German railway company Deutsche Bahn. The deal is being prepared for several months and finalized last week, informs Marica.bg.

The new owner intends to resume the production of freight wagons as well as their repair and also to extend the activity of repair and maintenance of locomotives. It is expected that VRZ, as the plant is better known, will start work in September by initially employing 70 workers, and in the next 18 months, a total of 300 jobs will be revealed.

"The recovery of the wagon repair factory, one of the main enterprises in the region, is expected to boost the development of the regional economy," said the mayor of the municipality Dr. Emil Kabaivanov.

In 2015, VRZ was bankrupt, after two years of struggling with financial problems.

Business » Be a reporter: Write and send your article
Advertisement
Advertisement
Expats.bg All Are Welcome! Join Now!
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