Bulgarian Cable Maker Emka Plans 10% Rise in Output, 1.35 Mln Euro Investment in 2010

The company plans to invest 800,000 euro in the production of enamelled conductors, a further 350,000 euro in the prodiction of cables and wires, and 200,000 euro in the production of profiled conductors, Emka has said in a statement to the Bulgarian Stock Exchange.

The company gave no forecasts for its output in the current year.

Emka posted a 772,000 levs ($565,000/395,000 euro) net profit in the first nine months of 2009, down from 1.7 million levs profit a year earlier.

Local privately-held KEMP company owns 38.7% of Emka. A stake of 33.4% is owned by Bulgarian diversified group Industrial Capital Holding, a former privatisation fund set up under the country's voucher privatisation programme in the 1990s.

No Emka shares changed hands on the bourse in Sofia on Tuesday. It last closed unchanged at 2.35 levs on Monday in a volume of 53 shares.

(1 euro = 1.95583 Bulgarian levs)