Банкеръ Weekly

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AUSTROTERM TO BUILD A PLANT IN BULGARIA

The Austrian company Austroterm will build a plant for heat insulation near Sofia by the year-end, investing BGN4MN in it. Construction works will start in July on 20,000 sq. m. According to the Austrians' plans, the enterprise will be producing annually 400,000 cu. m of heat insulation polystyrol plates. Polystyrol is an ecologically pure product which is also used for packing, even of foodstuffs. The plates' sizes will be 1.00x0.50 m and their thickness will vary from 1, 10, and 20 to 30 sm. Bulgaria's needs of such items were so far satisfied by Austroterm's plant in Romania. In 2003 alone 20,000 cu. m of such plates were imported from our northern neighbour. According to the company's Trade Manager Ernst Obermeier, who is in charge of Eastern Europe, the enterprise in Bulgaria will be the most state-of-the-art from all built by the Austrians until now. They have two plants in Austria, Hungary and Poland, and one in Slovakia, Serbia and Romania. All these enterprises sold a total of 2,000,000 cu. m of heat insulation last year.The plant's management in Bulgaria will be entrusted to Austroterm Bulgaria, registered in April. The company will be headed by Todor Nedev. The Austrian company has been present in Bulgaria since 1998 through Baumit Bulgaria, a supplier of its products to this country. The firms Austroterm, Baumit and Murexin are in fact part of Schmid Industry Holding, with a turnover of EUR700MN last year. Its 3,500 employees works in its enterprises in 14 countries.

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