May 23 (SeeNews) - Building materials producer Xella Bulgaria, a wholly-owned subsidiary of Xella Baustoffe, said on Tuesday it plans to invest 1 million levs ($574,500/512,000 euro) in its factory in Dobrich, in northeastern Bulgaria.
The company has invested a total of 80 million levs since it entered the Bulgarian market in 1994, Xella Bulgaria said in a press release.
In April, Xella Group was acquired by U.S.-based Lone Star Group.
Sofia-based Xella Bulgaria has a registered capital of 856,990 levs ($487,250/437,780 euro), according to the country’s commercial register.
Xella Baustoffe manufactures and markets building materials, gypsum fibreboard and cement-bonded dry lining panels together with lime and limestone.
(1 euro = 1.95583 levs)