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Oct 17, 2007 14:15 EEST
October 17 (SeeNews) - Financial group Eurohold Bulgaria said on Wednesday its unit GPS Control has opened an office in Milan in Italy and has plans to further expand in the country, as well as to enter the neighbouring Greek market.
GPS Control expects a three to five times higher rise in its sales in Italy compared to its sales growth in the Bulgarian market, Eurohold said in a statement.
The company offers satellite-based navigation global positioning system (GPS) to over 4,000 vehicles in Bulgaria.
GPS Control also plans to open office in the capital Rome and to expand to the neighbouring Greek market. In Italy, GPS Control will market a vehicle servicing, control and monotiring system and will offer Euroins insurance services.
Shares in Eurohold, part of the broad BG 40 index of the Bulgarian Stock Exchange, traded 1.24% lower at 8.05 levs ($5.83/4.11 euro) at 0936 GMT on Wednesday.
Eurohold has interests in finance, car dealing, manufacturing and high-tech sectors. The company owns insurer Euroins, also part of BG 40. In the summer, it bought Romanian insurance company Asitrans Asigurari.
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