KSM Dongfang to buy Bulgarian equipment
China’s KSM Dongfang, a car parts manufacturer for Volkswagen, Audi and Peugeot Citroen, has signed a EUR 1.8 million order with Bulgaria’s Pleven-based aluminum alloy producer Ilinden.
Pen was put to paper during a visit by Bulgarian economy minister Traycho Traychov to China.
Ilinden is owned by US company Counter Pressure Casting INC through its subsidiary Contraco. Alongside the Pleven factory, the US firm owns a production facility in Sevlievo.
The order to supply machines and equipment will be executed in two stages. The first EUR 602,000 portion is scheduled for delivery by November 2010, with a further EUR 1.206 million worth of machines and equipment to be shipped to China in the second quarter of 2011.
Traykov met with China’s Minister of Commerce Chen Deming to discuss Bulgaria’s potential to become a bridge for Chinese investments and technology transfer to the European Union (EU).
“Bulgaria has the potential to significantly increase exports to China and advertise Bulgarian feta cheese, yoghurt and wines as well as expand traditional trade in refined copper and copper alloys, raw lead, etc,” the Bulgarian Ministry of Economy said.