Trace Group Hold (

) has established two new subsidiaries. Limited liability company Trace Commerce was included in the Commercial Register June 20. Its core activity is trade, trade representation and intermediation, transport of goods and other activities not prohibited by law, x3news reported.

The address of the new company is Sofia, James Baucher Blvd 71. The company's capital is in the amount of 5,000 leva allocated in 50 shares costing 10 leva each. The owner of Trace Group Hold. Manol Denev has been appointed CEO.

The second new subsidiary is called Trace International. Its core activity is construction, trade with construction materials and goods, trade representation and intermediation, transport of goods and other activities not prohibited by law.

Trace International will have the same address. The company's capital stands at 5,000 leva allocated in 50 shares worth 10 leva each. Manol Denev is the CEO of this company as well, Tarce Group Hold is owner.

Trace International will be responsible for Trace group Hold's activity outside Bulgaria.

The holding's general meeting recently approved expansion as top priority this year. In 2008 the company will focus on entering the markets of the countries on the Balkans, in the Middle East and the former Soviet Union republics.

Negotiations for contracts in the Western Balkan region, the Persia Gulf and the former Soviet Republics are at an advanced stage.

Trace Group Hold and seven other Bulgarian construction companies together with the Construction Chamber participate in the Bulgarian Constructor company, which is to be registered in Russia. It will apply for projects on the territory of Russia. Its first objective will be to win a contest for working on the construction of the Olympic Village for the Winter Olympic Games in Sochi.

The stock is down 3.32% so far today to 131.66 leva at a turnover of 84 shares.