German Festo to Build Third Plant in Sofia with an Investment of €40 Million

Business » INDUSTRY | November 7, 2020, Saturday // 09:35
Bulgaria: German Festo to Build Third Plant in Sofia with an Investment of €40 Million

The German Festo to invest 40 million euros in acquiring, designing, and building a new plant near Sofia. This will be the company’s third production facility in Bulgaria, as it has plants in Smolyan and Druzhba district in Sofia.

The plot near Sofia has an area of ​​about 20 thousand square meters for production, logistics, office space, and technical premises. They are expected to be put into оperation in 2023. The 40 million euro investment does not include production facilities. The new plant will take on the increased demand for components for industrial automation, sensors, control pneumatic cylinders, communication modules, controllers, servo motors.

In the next four years, Festo plans to open 150 new jobs in production and as many for the technical engineering center in Sofia in order to enlarge its software, electronics, and product design and development team.

We need your support so can keep delivering news and information about Bulgaria! Thank you!

Industry » Be a reporter: Write and send your article
Tags: Festo, investment
Bulgaria news (Sofia News Agency - 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." (Sofia News Agency - 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