New international plant underway in Plovdiv
Hong Kong-based Tri-Wall Group has announced a 70 million levs (35 million euros) investment in a new corrugated packaging plant near Plovdiv. This is seen as a nod to Bulgaria's strategic location, EU membership, and recent Schengen entry, and the fact that the country is becoming an attractive gateway to Balkan and European markets.
Construction is set to begin this spring and finish by mid-2025, creating 250-300 jobs. The facility, spanning 30 hectares, will be fully operational by 2032, with equipment sourced from European and Asian manufacturers.
Shady IT deals during Glavchev's final days
Two IT tenders worth nearly 20 million levs were awarded during the last days of Dimitar Glavchev's caretaker government, with strong political influences seemingly at play. This is a trend in Bulgaria where winning public procurement contracts in Bulgaria can secure long-term government partnerships, often benefiting well-connected businesses.
The contracts went to companies linked to Christoforos Amanatidis (known as "Taki"), a figure previously wanted across Europe for organized crime. His involvement in state contracts is not new, but his entry into the IT sector signals a shift in influence over public funds.
Nestlé Bulgaria's sweet solution
During mass privatization, millions of Bulgarians became shareholders in various companies, some of which remained publicly traded, while others stayed private. For small investors in private firms, selling shares can be challenging, with limited options for cashing out. One solution is a direct off-market transfer, though this carries the risk of an unfair price.
In September last year, Nestlé Bulgaria facilitated an alternative by repurchasing 2,131 shares from 45 minority shareholders at 38.04 per share levs, consolidating ownership under its Swiss parent company, Societe de Produits Nestlé S.A.
New international plant underway in Plovdiv
Hong Kong-based Tri-Wall Group has announced a 70 million levs (35 million euros) investment in a new corrugated packaging plant near Plovdiv. This is seen as a nod to Bulgaria's strategic location, EU membership, and recent Schengen entry, and the fact that the country is becoming an attractive gateway to Balkan and European markets.
