Alkomet Shumen : Alcomet Announced 35 Million Euro New Investments

36 million euro new investments and additional 100 new work places will be opened in next 2 years by Shumen-based

Shumen - based company Alcomet will have 36 million euro in new investments and will open 100 new working places in the next 2 years. The company`s investment program was announced by the Supervisory board chairman Fikret Indje during the formal ceremony for celebrating 35 years since the factory establishment.

These planned investments are related to capacity growth, increase of the products diversity, increase of production efficiency, optimization and improvement of technical and technological processes, higher product quality assurance.

'We`ve managed to achieve one of our dreams. 17 years ago Alcomet started with production of 400 tons per month. Now we produce 6000 tons per month after having invested 80 million euro. We already have a new dream which costs 36 million euro. With this investment we will produce more than 100,000 tons per year and will reach turnover of 500 million leva', said Indje.

Fikret Kuzudju added that part of the new production capacity will cover manufacture for the automobile industry.

The prime minister Boyko Borisov, deputy prime minister Tomislav Donchev, social minister Zornitsa Rusinova, Bulgarian ambassador in Turkey N. Pr. Syuleyman Gyokche, the mayor of Shumen municipality Lyubomir Hristov and the Chairman of the Bulgarian metallurgy association Anton Petrov.

The prime-minister Boyko Borisov greeted all Bulgarian metallurgists for their professional celebration. During the Day of the Metallurgist ceremony held in Shumen, he showed his respect for the metallurgist labor and thankfulness that they create over 27% of the GDP of the country.

'I wish them healthy long lives and to see a growth in their salaries with even more than 50 %. This is indeed not an easy profession', the Prime-minister said to the working in the sector.

Ambassador Gyokche said that the Turkish investments in Bulgaria are over 2 billion USD, and the goods turnover between the 2 countries is more than 4 billon USD. 'I believe that the future ahead of Bulgaria is bright and that Turkey will be one of the important partners of your country', he added.

The first stage of the new investment program foresees mounting of new cold rolling mill for rolling strip and the facilities related to it as well as purchasing an innovative new press to produce special aluminum profiles. With this investment, the company will broaden its products variety and will satisfy new demands from other industries such as construction, food, automotive.

Currently the company has around 1000 employees and the new investment will give the opportunity to open around 100 new jobs or 400 in total during the program execution. The expectation is that the total volume of production will increase by at least 35% while maintaining the levels of profitability after completion of the whole investment program.