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Festo Production finished investment for BGN 16 million

April 23, 2015

Festo Production finished the second expansion of its warehouse and logistics base. Investment in the new building exceeds BGN 16 million and results in double extension of area, reported capital.bg.

Festo production is part of the German tie-up Festo which has 61 subsidiaries, 11 factories and 18 thousand associates all over the world. The factory in Sofia is one of the fifth largest of the group and is specialized in manufacturing of sensors and connecting cables. At present Festo production disposes with more than 21 thousand square meters of area, the company employs 610 people, of whom 160 are newly-hired.

In 2015 the company plans about 13% increase in quantity of produced goods and 70 new employees. Up to 2018-2019 the company’s personnel is planned to become nearly 800. That is why the third envisaged extension is due to take place by 2020. In 2015 and 2016 Festo will invest predominantly in automation of the production. The company considers investing more than EUR 2.5 million in the next three years for automation, without counting investment in machinery and equipment for new products.

 

Source: http://www.capital.bg/