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Televic Bulgaria to invest 5.1 mln euro in new factory

Televic Bulgaria to invest 5.1 mln euro in new factory Televic Bulgaria team, with Televic Group CEO Thomas Verstraeten in middle. Source: Televic.

SOFIA (Bulgaria), May 27 (SeeNews) - Televic Bulgaria, a unit of Belgium-based high-tech communications systems manufacturer Televic Group, said it is investing 10 million levs ($5.5 million/5.1 million euro) in the construction of a new production plant near Plovdiv .

The new plant will spread over an area of more than 5,500 square metres in the village of Tsaratsovo and will comprise office and warehousing sections, Televic said in a statement last week. It is intended to be the company's main local production hub.

Televic Bulgaria currently employs about 200 staff at its existing facilities, which include a research and development (R&D) centre in Plovdiv.

The construction of the new manufacturing site, which will produce the full range of Televic systems, began at the end of 2021 and is due to be completed by the end of 2022.

The Belgium-based group has other offices and factories in Europe, Asia and the US, and employs a total of over 900 staff. Germany, China and Bulgaria host its major facilities. The company focuses on conferencing technology, education and assessment systems, as well as communication solutions for the healthcare and railways sectors. The group reported a turnover of close to 150 million euro ($161.2 million) for 2021.

In June 2020, Belgian private equity firm Gimv bought an unspecified minority stake in Televic Group for an undisclosed amount, with the aim of boosting the company's worldwide growth.

(1 euro = 1.95583 levs)

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