Turkey's automotive sealing system manufacturer Standard Profil is planning to double its production facilities in Bulgaria. The company's 4000 sq. m plant in the city of Stara Zagora will be expanded, with construction works due to start next year, Standard Profil Bulgaria's CEO Petar Angelov told the Capital Daily in an interview.
The new plant is expected to start production in 2015. The investment in construction and equipment is estimated at about 12 million leva. The project will be financed with a loan from the Turkish parent company.
Standard Profil already has three plants in Turkey. Its decision to grow in Bulgaria is prompted by this country's EU membership and proximity to key markets, such as Germany, Poland and the United Kingdom. The plant manufactures sealing systems for General Motors, as well as for Fiat, Volkswagen, Renault, Daimler Mercedes.
Read more in Bulgarian here.