German-based lighting giant Osram announced on October 10, that a total investment of EUR 25.6 million (USD 30.1 million) will be done in its first plant in Bulgaria. The company has publicly shared the news about is expansion plan in production line to Eastern Europe earlier in March, this year.
It is being reported that the plant is located in the Trakia Economic Zone near Plovdiv, which is the second largest city of Bulgaria. The investment of the new plant from EUR 23 million (USD 25.9 million) reported in March has been raised to EUR 25.6 million (USD 30.1 million).
Construction started in the late March and the factory is ready to operate around the end of October, according to the official statement released by Osram. The new project apparently will release 900 job vacancies with approximately 150 management jobs and 750 regular ones. The new Plovdiv plant is intended for the manufacture of smart LED lighting systems.
Osram has been quite successful in Bulgaria’s lighting market since 1998, when it first stepped. It now shares double-digit market share. According to Osram representative it has been revealed that the Plovdiv was chosen for its Plovdiv for its location as an access to the key transport corridor of Europe and the Eastern European market including countries such as Romania, Moldova, Serbia, Macedonia, and Kosovo as well as for its local well qualified work force.
