July 4 (SeeNews) - The Bulgarian unit of Swiss manufacturer of passive cabling solutions for high-quality communication networks Reichle and De Massari said on Wednesday it will invest 5 million levs ($2.97 million/2.55 million euro) in expansion of its production capacity in Sofia.
The company aims to increase the capacity of its plant in Sofia, to expand its product portfolio and to hire 100 employees, Radoslav Ralev, head of Reichle and De Massari Bulgaria Production said in a statement.
Currently, the company employs 350 in Bulgaria.
Reichle and De Massari Bulgaria Production plans to grow its sales by 10% in 2018. About 95% of the company's output is being exported.
The Swiss parent company is founded in 1964 and focuses on the development and manufacturing of cabling technology for communications networks.
(1 euro = 1.95583 levs)