SOFIA (Bulgaria), January 15 (SeeNews) – Bulgarian veterinary drugs producer Biovet [BUL:53B] plans to invest 2.0 million euro ($2.7 million) in the expansion of its granulated veterinary production facility in Peshtera, local media reported on Wednesday.
The project, which involves the construction of a new building and the purchase of equipment, is expected to result in a 20% increase of Biovet’s capacity for production of granulated veterinary products, business newspaper Capital Daily said, quoting the company's CEO Angel Zhelyazkov.
The expansion is expected to be completed within 18 months.
Granulated veterinary products account for some 30% of Biovet’s output, the newspaper said.
Biovet has three production facilities in Peshtera, Botevgrad and Razgrad, according to the company’s latest quarterly report.
The company is a majority-owned subsidiary of Bulgarian pharmaceutical company Huvepharma.
($=0.735 euro)