Business

Swiss company ”Trisa” invests in Bulgaria
At October 26, 2014 Svetoslav Mladenov, Executive Director of InvestBulgaria Agency (IBA), Regina Escher Ambassador Extraordinary and Plenipotentiary of the Swiss Confederation to the Republic of Bulgaria and Evgeni Krastev, CEO of ”Trisa” Ltd. made the first sod of the future logistical and administrative center of the Swiss company, which will be built in the Industrial Park ”Sofia East” near Elin Pelin. Firstly will be built 3,000 square meters on own plot of 27,000 square meters. The President of ... more
The Foreign direct investments in Bulgaria for January - August 2014 are EUR 1221.4 million (3% of GDP), according to preliminary data of the Bulgarian National Bank (BNB). During the same period in 2013 the revised data for the FDI was EUR 1173.9 million (2.9% of GDP).Thus BNB reported an increase of 4% or 47.5 million euro. However, if the data today is compared with the unrevised data released in October 2013, the growth rate is significantly higher. The ... more
Bosch Group is expanding its presence in Turkey
The Bosch Group is further expanding its presence in Turkey. Between 2013 and 2015, the international technology and services company will be investing some 300 million euros in the extension of its existing location in Bursa, 90 kilometers South of Istanbul. By the end of this year, Bosch intends to create around 500 jobs there. High-pressure injectors for diesel passenger cars will be manufactured in the new production hall, primarily for European automakers. "By making this investment, Bosch is ... more
ENEC+ launches the First European Mark that certifies the initial performance of LEDs and other luminaries
EEPCA, the European Electrical Products Certification Association, in cooperation with LightingEurope, announced the launch of ENEC+, the first pan-European mark capable of certifying the initial performance of traditional and LED luminaires. The new performance rating provides the market with certification as to the compliance of LED light fixtures and other luminaires, proving compliance with European safety standards and ensuring the reliability of their stated performance characteristics at the beginning of their life cycle.EEPCA and LightingEurope jointly started this exercise ... more
Emerson expands European manufacturing and engineering services capabilities to meet growing customer demand
76 million USD investment in new facilities at company’s campus in Cluj-Napoca, Romania, strengthens Emerson’s growing global manufacturing and engineering services networkEmerson Process Management, a business of Emerson, is expanding the company’s existing manufacturing and engineering services campus in Cluj-Napoca, Romania. The expansion includes a new, 18,800-square-meter flow measurement manufacturing building. This USD 60 million investment will help meet growing demand for the company’s flow measurement products and services in Europe and other regions. Additionally, in the summer of ... more
Schreiber Foods acquires Danone`s production facility in Sofia
American company Schreiber Foods will acquire Danone`s production facility in Sofia - "Danone Serdika", according to information from Danone. The sale of the plant is part of the French giant - Danone Group`s strategy for optimizing the production capacity, costs and improving the competitiveness, following the group’s weak results in Europe in the last months. Danone is also transferring its production capacities in Portugal and the Czech Republic to the American company.The deal includes transfer of all production facilities and ... more
Atlas Copco Internationaal B.V. has acquired Dost Kompresor ve Endustri Makinalari Imal Bakim ve Ticaret A.S., a distributor and service provider of compressors and related equipment in Turkey.Dost Kompresor, based in Istanbul, Turkey, has 16 employees and is active in industrial compressor sales and service. "This acquisition will expand our presence in the increasingly important Turkish market," said Stephan Kuhn, President of Atlas Copco’s Compressor Technique Business Area. "It supports our strategy to focus on service relations with our customers". ... more
DIV Group opens new factory in Knin to employ 400 people
The DIV Group opened a new screw factory in the town of Knin, about 100 km north of the coastal city of Split. The investment is valued at EUR 35 million and will create 400 jobs. DIV believes that this could mean a further 350 jobs for logistic and other external services for the company.An increased demand and growing number of orders from Europe for screws has led to DIV deciding to invest in expanding its capacities and to construct ... more
Grundfos opens new factory in Serbia
Together with 500 customers, business partners and employees, the Serbian President Tomislav Nikolic took part in the celebrations at the inauguration of the newly-built factory in Indjija north-west of Belgrade. Along with the factories in Russia and Hungary, the factory will be delivering pumps to the Central and Eastern European market, where there is a growing demand for Grundfos pumps.Since the spring of 2011, Grundfos has been producing circulator pumps in rented buildings. In addition to several types of circulator ... more
YASKAWA Europe announces new subsidiary in Turkey
YASKAWA, the world’s leading manufacturer of industrial robots, machine controls, medium-voltage inverters, and servo and inverter drive products, is opening a subsidiary in Turkey with headquarters in Istanbul. The new building was inaugurated with numerous guests from the political and business sectors.YASKAWA has been doing business on the Turkish market through sales partners and system integrators for many years now. Current market data shows that the company’s drive and robotics products are very popular among Turkish customers. Expanding the local ... more
KEMET established a new manufacturing plant in MacedoniaKEMET Corporation, a leading manufacturer of tantalum, multilayer ceramic, solid aluminum, plastic film, paper and electrolytic capacitors, announced the grand opening of its new Film facility in Skopje, Republic of Macedonia. The facility will allow for a significant reduction in cost while increasing total production capability. "Today’s opening ceremony for this state-of-the-art manufacturing facility marks a major milestone in the restructuring of our Film and Electrolytic business," stated Per Loof, Chief Executive Officer ... more
Balkan business climate is going better
Businesses in Southeast Europe are finding it easier to operate as governments cut red tape, a new World Bank reports saysMany countries in the region been actively reforming their business environment, driven by the demands of the EU accession process and by a desire to attract foreign investment, says Valentina Saltane, co-author of the "Doing Business" 2013 report."Doing Business 2013 notes Serbia as one of the top 10 reformers globally, implementing reforms in starting a business, contract enforcement and resolving ... more
Chinese investmentments in Serbia
Chinese private sector investments into Serbia have failed to keep pace with the large-scale infrastructure deals signed between the two countries. However, the commercial relationship between the pair is on the verge of a sea change, with the Balkan country increasingly seen as a potential manufacturing hub. Despite excellent political relations, private sector links between China and Serbia have flagged in recent years as the crisis tightens its grip on the Serbian economy. However, the resultant high unemployment and low ... more
In a new report, the European Bank for Reconstruction and Development, EBRD, underlines that Southeastern Europe remains vulnerable to the on-going crisis in the eurozone, owing to its exposure to the Greek and other eurozone periphery economies.The report says the negative impact of the eurozone crisis on growth in the region through overall capital outflows may have lessened, but its effect on lending through cross-border bank deleveraging was continuing. "Financial sector vulnerabilities constitute the biggest risk, given that the vast ... more
EIB provides EUR 100 million to support smaller projects in Croatia
The European Investment Bank (EIB) is providing a loan of EUR 100 million to the Croatian Bank for Reconstruction and Development (HBOR - Hrvatska banka za obnovu i razvitak) to finance the projects of small and medium-sized enterprises (SMEs), mid-cap companies and municipalities in Croatia. The loan contract was signed in Dubrovnik following the meeting of the EIB’s Board of Directors, which took place in Croatia for the first time. The Republic of Croatia has obtained observer status in the ... more

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