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Bulgaria's Lavena investing 2.6 mln euro in capacity expansion

Author Mario Tanev
Bulgaria's Lavena investing 2.6 mln euro in capacity expansion Lavena / All rights reserved.

SOFIA (Bulgaria), October 18 (SeeNews) - Bulgarian lavender oil and cosmetics producer Lavena [BUL:4L4] said that it is investing 5 million levs ($2.9 million/2.6 million euro) in expanding its production and storage base in the town of Shumen.

On Wednesday, Lavena signed a contract with construction company Cordeel Bulgaria for thе new building, which must be completed by the end of July 2019, the cosmetics maker said in a bourse filing.

The new building will have a total floor area of 5,203 sq. m.

Established in 1962, Lavena owns lavender plantations and exports its products to Europe, Asia, Africa, Australia and the U.S. Bulgaria is among the world's biggest producers of lavender oil.

(1 euro = 1.95583 levs)

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