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SOFIA (Bulgaria), July 15 (SeeNews) - Headlights manufacturer odelo Bulgaria, a unit of Turkey's Bayraktarlar Group, has opened a research and development centre in Sofia, the Trakia Economic Zone (TEZ) said on Monday.
The ongoing construction of odelo Bulgaria's production facility for Mercedes-Benz taillights located in TEZ, near Plovdiv, is almost completed, TEZ said in a statement.
The R&D centre and the taillights plant are both part of a planned 40 million levs ($23.0 million/ 20.4 million euro) investment by odelo Bulgaria.
The company expects that its investment in the R&D centre will open 40 new jobs within three years, whereas some 400 employees will be hired in the plant.
“When we find the right environment in terms of human capital and government support, the investments prove to be successful. We are confident that our business in Bulgaria will be beneficial and we'll continue to grow,” odelo Lighting Group president, Ahmet Bayraktar, said in the statement.
Odelo Bulgaria is a wholly-owned subsidiary of Turkey's Farba Otomotiv Aydinlatma Ve Plastik Fabrikalari, part of Bayraktarlar Group.
(1 euro = 1.95583 levs)