Greek Tyrbul to invest EUR 15 M in Bulgarian Sliven-based dairy

Greek Tyrbul to invest EUR 15 M in Bulgarian Sliven-based dairy

Greek company Tyrbul will invest EUR 15 million in its milk processing plant in Sliven over the next two years.

The resources will be spent on new production premises and equipment, according to Capital Daily.

Dimitris Sarantis, executive director and co-owner of the company, gave a more detailed outline, saying that around EUR 3 million would be invested in new buildings on the territory of the Sliven-based plant, while a sum of EUR 7 million would cover the automation and mechanization of the production process, with the remaining EUR 3-5 million to be allocated to the purchase of new equipment made in Germany.

The investment will allow the Sliven-based factory to add soft cheese to its product range.

At present, the dairy produces different types of hard cheese and preparations for yellow cheese and curd.

The owners of the Greek group Tyras, to which the Sliven-based dairy Tyrbul belongs, announced their investment plans at the tenth anniversary of the firm, which was attended by Desislava Taneva, Bulgaria’s new Agriculture Minister.

The new investment in Tyrbul will increase its production volume by 50 % over the next two years.

The dairy plant currently employs 130 people.

According to Sarantis, the new capacity will not create new jobs but it will pave the way for the dismissal of low-qualified employees and their replacement by specialists who can work with the new technology.

Tyrbul buys milk from over 70 Bulgarian farms and processes 120 tonnes of milk a day at its Sliven-based plant.

The company boasts that it is the leading milk-processing company in the country.

Since 2004, Tyrbul has invested more than EUR 20 million in Bulgaria.

Over 80 % of the production of the Sliven-based dairy is exported.

The company exports cheese to all EU member states.

Tyrbul has also been exporting cheese to the US for the past two years.

According to the latest financial report, the company reported sales revenues of BGN 56.8 million and a net profit of BGN 48 000 in 2013.

Tyrbul is a subsidiary of Greek company Tyras, which owns 5 plants in Greece, Bulgaria and Romania.