Televic Bulgaria, a subsidiary of Belgium's high-tech communications system manufacturer Televic Group, will invest 10 million levs (5.1 million euro) in a new production facility. The company, which is based in the village of Tsaratsovo near Plovdiv, has been operating in this country for more than 20 years. Strong demand in recent years has prompted the decision for expansion, which will triple the factory's current capacity and allow it to enter new market niches.
The Bulgarian factory was set up in 2000 and currently employs some 200 people. It manufactures more than 90% of Televic Group's production volume and offers its full range of products. The existing plant covers 3,300 sq. m, including production area and warehouses, to which the investment project will add 5,500 sq. m of space. Construction started in late 2021 and is planned to be completed by the end of 2022. Once the new plant is equipped and production moves there in the first quarter of 2023, the old facility will be rearranged into a shop for circuit board assembly, which will allow Televic to make another step into high technologies.
Televic Bulgaria's revenue has been growing by the year. In 2020 it reached 24 million levs, up from 18.2 million levs in 2019, and the result was further improved in 2021, CEO Vladimir Veninski said. This year too is expected to see record sales.
Televic Group was founded in 1964 in the city of Izegem, Belgium. The group has offices in Germany, France and the UK, as well as production facilities in the United States and China. In Veninski's words however the production volumes there are much smaller than in Bulgaria. On a global scale, Televic employs some 1,000 people and has a turnover of 150 million euro.
The Belgian group offers communications systems on four markets: healthcare, rail, education and conferencing technology. Healthcare is the first and most developed segment of the business. The group covers 90% of the Belgian healthcare market, providing personal alarming, localization, nurse calling solutions etc.
The rail segment consists of passenger information and communication systems, with clients including companies like Deutsche Bahn, Siemens and Bombardier. Televic's conferencing solutions can be found in the European Parliament, NATO, the White House and on board of Air Force 1. In the area of education, Televic builds complete platforms that facilitate online training and assessment and are used by governments, education institutions and other clients.
The Belgian group has a team of 350 R&D engineers in Berlin who develop the software of all Televic's products. The company also has a software office in Bulgaria's Plovdiv, where some 30 to 35 engineers deal with maintenance.
Crises and people
Televic Bulgaria took timely measures to avoid the consequences of the Covid-19 crisis and the war in Ukraine, Veninski said. The supply chain disruption was a challenge as many components are delivered from Asia but the company has managed to diversify its suppliers.
Veninski says that people are at the core of the company's progress over the years. Many of the improvements in production, design and efficiency are suggested by the employees. In Veninski's words Televic enjoys a very low turnover rate, as there is always something new and interesting for people to learn at the company.