January 31 (SeeNews) - Hungarian electronic manufacturing service (EMS) provider Videoton Holding said that its Bulgarian subsidiary, VEAS Bulgaria, will receive a 2.4 million euro ($2.7 million) investment to finance modernisation and production capacity increase at its plant in Stara Zagora.
Half of the investment will be implemented as a grant within the framework of the Hungarian government's foreign market growth support scheme, Videoton said in a press release last week.
Following the expansion, the production capacity of VEAS Bulgaria's plant will almost double.
VEAS Bulgaria has been operating for over 20 years. It currently employs around 1,250 people.
($ = 0.8969 euro)