October 3 (SeeNews) - Germany's Industrie und Finanz Holding is planning to invest 2.5 million euro ($2.7 million) in the construction of a new production facility in Bulgaria for its local unit Winterhalder, local media reported on Thursday.
The new facility will be located at the current production base of gaskets and insulation products maker Winterhalder Bulgaria - at the Radinovo industrial zone near the city of Plovdiv, business news outlet Capital.bg reported.
Winterhalder Bulgaria booked revenue of 5 million levs in 2018 and closed the year with a pre-tax profit of 1 million levs, according to the report. The company forecasts that its revenue will grow to 8 million levs in 2023.
Winterhalder Bulgaria currently employs 35 people in the country.
($ = 0.9118 euro)