June 19 (SeeNews) - Bulgarian textile company Nikolov & Sons plans to launch in September a 1.2-million euro ($1.34 million) production line for textured silk at its plant in Parvomay, in southern Bulgaria, local media reported on Monday.
The new production line will have a capacity of 30 tonnes per month and will create 10 new jobs, Capital Daily said.
The project is funded with own funds of the company and a bank loan.
Going forward, Nikolov & Son plans to double the production capacity of the new line and to start the construction of a dyeing unit in 2017. The planned investment, which amounts to 700,000 euro, will open 12 new jobs.
In 2016, the company's net profit rose to 360,000 levs ($205,800/184,100) from 190,000 levs in 2015, according to Capital Daily.
Nikolov & Sons, established in 1999, also produces elastic threads.
($ = 0.8931 euro)