BULGARIA: Miroglio plans to setup spinning & textile-dyeing unit

SOFIA: The Italian textile maker Miroglio Group plans to invest about 78 million leva (almost 40 million euro) in its sixth factory in Bulgaria, Massimo Bartocci, CEO of Miroglio Bulgaria said here on May 21.

The CEO further clarified that with the estimated investment, the company is in process to setup a spinning and textile-dyeing factory with a water purifying unit in the south-eastern town of Yambol.

The construction of the unit has already started and about 50 percent of the investment has been used and the 78 million leva investment will be completed in the spring of 2007.
The largest Miroglio Bulgaria in the country produces woolen, cotton and polyester textiles in three units, located in Elin Pelin near the capital Sofia and in Sliven, south-eastern Bulgaria.

Whereas the other two units are a spinning mill in Nova Zagora, also in the southeast, and yarn maker Raumer Bulgaria in Sliven.

The CEO further estimates a turnover of about 30-40 million leva in the first year and 60-70 million leva in the second year and return on the investment would depend on market conditions.

For the year 2005, Miroglio Bulgaria registered a turnover of 202 million leva and had a net profit of 4.7 million leva on 44 million leva turnover.

Send your News/Releases for publication to [email protected]
Added: May 22, 2006 Source: Press release.
Start script - 1532075802.5666 Start news id check - 1532075802.5667 After news id check - 1532075802.567 After cookie_code - 1532075803.4354 Before news detail - 1532075803.4354 After news detail - 1532075803.4362 Start cat select - 1532075803.4363 After cat select - 1532075803.4365 before preg replace - 1532075803.4365 After preg replace - 1532075803.4365 Before tag engine - 1532075803.4366 After tag engine - 1532075803.4574 Before mptt engine - 1532075803.4574 After mptt engine - 1532075803.4574 Before related engine - 1532075803.4574 After related engine - 1532075803.4649 Before update hits - 1532075803.4649 After update hits - 1532075803.4651 After update news_hits - 1532075803.4752 After mem_only_views - 1532075803.4752 -------------------------------------------------- Total Exec time:- 0.90859985351562
AddThis Social Bookmark Button   Tell a friendBookmark AddThis Feed Button
Related News:

Website design by InWiz • © - 2000-2018. Internet Wizards All rights reserved. About usTerms & ConditionsDisclaimerPrivacy policy • 20-07-2018