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Bulgaria Cabinet to Support Knauf Bulgaria Investment Plan

Date: 31.10.2008

The Bulgarian Cabinet is going to support the investment plan of the "Knauf Bulgaria" company with BGN 2,6 M.

The company is building a factory to manufacture plasterboards in the town of Galabovo, near the Maritza-Iztok thermal plant.

The total investment amount is estimated at EUR 54 M, while the new factory, which is scheduled to open doors by mid-year of 2009, is going to provide 100 new job opportunities.

The estimated yearly production is 30 million square meters of plasterboards. The majority of the production is going to be exported. Currently Knauf have invested nearly EUR 20 M in Bulgaria

Knauf Bulgaria is the Bulgarian branch of Knauf Gips KG Iphofen Germany and is administered by the Knauf office in Vienna. Knauf Bulgaria was established in 1993.

Operating more than 150 production sites worldwide, today Knauf is one of the world's leading manufacturers of building materials. Knauf has a workforce of 22,000 in 40 countries and in 2007 the company generated sales will amount to EUR 5,5 B. The Group started to go international as early as the beginning of the seventies of the last century and the trend continues. Today the Group produces and sells its products in all European countries. Furthermore, there are factories located in North and South America, in the CIS states, in Turkey, in China and in Indonesia.

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