Serta Bulgaria invests 7.7 mln euro in plant expansion

January 25 (SeeNews) - The Bulgarian unit of France-based hydraulic cylinders manufacturer Serta Group has invested some 15 million levs ($8.33 million/7.67 million euro) in a project for expansion of its plant in the city of Kardzhali, the economy ministry said on Wednesday.

The expansion, which is Serta Bulgaria's third investment in the plant, has created 100 jobs, the ministry said in a press release.

The plant manufactures cylinders for agricultural and road construction equipment.

Serta Group has been operating in Bulgaria since 2003 when it acquired local company Pnevmatika. Serta Bulgaria currently employs 700 people.

(1 euro = 1.95583 levs)