EMKA AD Launches a 2 Million Euro Investment Program

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EMKA AD-Sevlievo’s Board of Directors has approved a 2 mln euro investment program, BSE-Sofia announced. The money will be used for research, purchase and launching of cable manufacturing technical equipment (machines).

The main objective of the program is to replace old equipment, to facilitate the assimilation of new technologies and to improve labour productivity and production capacity.

The 2 mln euro investment will be financed through credit and own funds.

The program will be implemented in several stages until 2008. It is expected to be redeemed 48 months after its launching.

EMKA AD-Sevlievo will hold a general shareholders’ meeting on 22 May 2007, which is expected to vote a proposal to increase the company’s capital from 1.792 mln leva to 5.376 mln leva.

KEMP AD controls 38.73% of EMKA’s capital. Industrial Capital Holding and Biser Ivanov hold 33.42% and 7.28% respectively.

67 shares on this position have been traded so far at an average of 37.53 leva/share.

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