Packaging maker Unipack to invest in new production capacity
Unipack, the local producer of corrugated board packaging, said it plans to make new investment in its core production and boost sales abroad.
The company will open a trade representation in neighboring Serbia by the end of the year. It is also preparing to launch an office in Varna, on the Black Sea.
The outmoded equipment of the Pavlikeni plant will be sold and the proceeds - estimated at around 100,000 euro, invested in new production capacity, said board chairman Todor Chakov.
Unipack recently launched a new production line at a cost of 156,000 levs.
The planned investment spending will be sourced from company funds but the company does not rule out loan and lease financing as well, said Chakov.
Sales abroad are expected to account for 7-8% of total sales in 2007.
The company said the number of clients it does business with increase by 28 to 46 in the first quarter of 2007.
Unipack recorded a profit of 10,000 levs in Q1, reversing a year-ago loss of 133,000 levs.