INVESTMENT NEWS
Odelo Opens Development Centre in Sofia
Odelo Farba, the subsidiary of Odelo Group in Bulgaria opened a development centre in Sofia. The company is a key supplier to Mercedes and the team in the capital will work on the design of the taillights of automobiles, which should go into production two years after the initial design phase.
The centre starts with 10 highly-qualified engineers and plans to increase their number to 20 by the end of the year, and to employ 40 people within three years. They will work in several disciplines, including engineering, optics, electronics, and testing, Odelo Farba said.
The development centre in Sofia is part of the 40 million-еuro investment in Bulgaria announced by odelo last year. The other project of the group is the construction of a production base near Plovdiv. The company received a Class A Investor Certificate from the Ministry of Economy for its investment in the country.
About the company
Odelo Bulgaria Ltd is part of the Turkish Bayraktarlar Holding. The company is a leading supplier of automotive lights and works with major car manufacturers such as Daimler, BMW, Audi, VW, Renault, Toyota and others. The holding also includes companies in the insurance, construction and tourism sectors.
The company has factories in Germany, Slovenia, Turkey and China, as well as development centres in Stuttgart (Germany) and Bursa (Turkey). The group employs nearly 4,000 professionals.
Source: Sofia Investment Agency
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