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Dec 21, 2017 17:01 EEST
SOFIA (Bulgaria), December 21 (SeeNews) – Bulgarian paper packaging manufacturer Yuri Gagarin [BUL:4PX] said on Thursday it will receive a grant of up to 2.5 million levs ($1.5 million/1.3 million euro) under the Operational Programme Innovations and Competitiveness.
The funding will support the company’s project for improving energy efficiency, Yuri Gagarin said in a bourse filing.
The company intends to acquire an eight-color offset printing machine and a waste energy recovery system.
In a separate statement, Yuri Gagarin said it has reached an agreement with local Commerce Bank D for a 2 million levs overdraft line of credit. The funds will be used to finance the company’s main activities, it said.
In October, Yuri Gagarin [BUL:4PX] said it has sold a warehouse buidling for 7.9 million levs.
(1 euro = 1.95583 levs)
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