SOFIA (Bulgaria), September 15 (SeeNews) – Bulgarian diversified holding company TK Hold [BUL:T24] said on Friday its subsidiary Technotex has finalised the sale of its production base in the city of Pazardzhik to local furniture maker Kolorado-AVS for 1.6 million levs ($944,000/818,000 euro).
Kolorado-AVS will acquire a plot of land of 45,472 sq m along with all buildings located there, TK Hold said in a bourse filing.
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The two companies signed a preliminary contract for the sale on July 17, agreeing to finalise the deal within two months.
Pazardzhik-based Technotex specialises in manufacturing technical textile.
Kolorado-AVS, also based in Pazardzhik, in southern Bulgaria, owns two other factories, spreading on a total area of 30,542 sq m. Kolorado-AVS employs over 190 people and specialises in the production of upholstered furniture and modular systems.
(1 euro = 1.95583 levs)