INVESTMENT NEWS
Korado Bulgaria invests BGN 4 million in new radiator production line
Czech company Korado Group will invest BGN 4 million in a new production line which will expand the product range of Korado Bulgaria AD.
Thanks to the new equipment, the plant based in the northern Bulgarian town of Strazhitsa will start producing a new item, bathroom radiators.
The investment is to be completed by end-2015, with the new products expected to hit the market at the beginning of 2016, according to representatives of Korado Bulgaria AD, as cited by money.bg.
The move will ensure the implementation of the second stage of the BGN 25 million investment program of the company.
Korado Bulgaria AD absorbed investments of BGN 7 086 161 in 2014. The resources were provided through the sale of shares on the Bulgarian Stock Exchange-Sofia and from operating cash flow.
After the completion of the first stage of the investment program, a new production line for steel radiators was launched at the Strazhitsa-based plant.
The production line was officially launched at the end of 2014 and it increased the capacity of Korado Bulgaria AD by 650 000 items per year.
As a result, the company’s output will reach 1.15 million radiators a year.
The launch of the new production line will lead to an increase of the total headcount by 11%.
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