Billboard To Invest EUR 11.6 Million By End of the Year

Billboard To Invest EUR 11.6 Million By End of the Year

Billboard Jsc is to invest 11.6 mln euros by the end of the year, of which 3.7 mln euros own funds, the company told

The money will be directed to three main areas, the Board of directors decided.

In Sofia (investment in wide format digital printing) the company will buy new equipment. The equipment bought so far this year is: VIRTU R35/48, AQUAJET 33/24, FUJIFILM Acuity, OBJET Connex, HP Z6100, SUMA T1600, SEAL 62S, ESCO Kongsberg i-XL, DB Eyeleting machines, Miller Weldmaster T-100, Miller Weldmaster 112CS, Rolsroller 540, FOTOBA 30/62, FOTOBA 12/20TT, NEOLT electro power plus.

A total of 2.2 mln euros will be invested in this direction, of which 400,000 is company's own funs. The new machines are to enter into operation by the end of August.

The company will invest 1.1 mln euros (own funds) in Varna for the purchases of the following machines: VUTEK 5330EC, VUTEK 3360EC, VUTEK Press VU 200/600W+, Mimaki TextileJet TX1600, HP Z6100, SEAL 62C, SUMA D1400, NEOLT electro plexy trim, NEOLT horizontal electro foam trim plus, DB Eyeleting machines, Miller Weldmaster 112SC. Wide format printing in Vrana will be launched by the end of August.

The third direction for investments is offset printing and its marketing in the city of Varna. It will be operated by subsidiary Dedrax. Some 3.1 mln euros will be invested in this area, 400,000 of which own funds. Offset printing activity in Varna has to start by the end of the year.

The Varna projects will be realized in a separate printing facility with a total area of 5,466 square meters, of which 335 square meters commercial space and 5,130 square meters production area. The facility will be located in business center Bee Garden in Varna. The preliminary contract for the purchase of the premises has to be signed by 5 Aug 2008.

The total costs (acquisition and completion) are estimated to reach 5.2 mln euros.

The company is giving a 5 mln leva loan to subsidiary Digital Print in order to complete the establishment of the facility in Varna.

The investments above are separate from the project for the construction of a new facility in Kostinbrod, which is to be executed by subsidiary Hiitset EOOD.

Just 1 share changed hands on the position today at 5 leva.

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