January 16 (SeeNews) - Franco Miroglio, CEO of Bulgarian-based textile group Edoardo Miroglio EAD, said the company has started production in Pirot, in eastern Serbia.
The company reopened the AHA Mura Prvi Maj factory in Pirot with 200 workers and will aim to increase their number to 1,000 in the future, depending on market demand, Miroglio said in a video file posted on the YouTube channel of local broadcaster Plus Radio on Monday.
Edoardo Miroglio has a very strong presence in Europe and expects the workforce of the Pirot factory to grow rapidly, the company CEO added.
Serbian media reported in October that Edoardo Miroglio acquired the factory for 200 million dinars ($2 million/1.7 million euro).
The factory was owned by English-Slovenian group AHA Mura, which was declared insolvent in 2014.
In Southeast Europe (SEE), Edoardo Miroglio operates factories in Bulgaria's Sliven, Yambol and Svishtov.
(1 euro = 118.379 dinars)