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Radiators maker Korado Bulgaria plans to invest 2.5 mln euro in new equipment

Author Dena Popova
Radiators maker Korado Bulgaria plans to invest 2.5 mln euro in new equipment

SOFIA (Bulgaria), August 5 (SeeNews) - Bulgarian manufacturer of steel panel radiators Korado Bulgaria [BUL:4KX] said it plans to invest some 2.5 million euro ($3.3 million) in new equipment.

Korado plans to spend 1.85 million euro on a second production line, to become operational by the end of 2014, and about 690,000 euro on new matrices, it said in a bourse filing last week.

The shareholders of the company will vote on the proposed investment plan at the next general shareholders meeting scheduled for September 25.

Korado Bulgaria, based in the northeastern town of Strazhitsa, is a subsidiary of Czech heating equipment producer Korado a.s.

($=0.7698 euro)

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