Bulgaria's Mak investing 1.4 mln euro in technological upgrade

The project is supported by a 700,000 levs grant under the Next Generation EU recovery package through the National Recovery and Resilience Plan, Mak said in a bourse filing.

The technological upgrade aims to enhance the company's production efficiency, increase productivity, cut costs, optimise the production chain and diversify the product range. Works are expected to be completed within a year.

Gabrovo-based Mak makes raw fabrics, along with ready-to-wear garments like military and police uniforms, workwear, and leisure and sportswear.

Shares in Mak last traded at 37.00 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data showed.

(1 euro = 1.95583 levs)