IKEA Managers Inspect Darvoobrabotvane VT

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Managers of Sweden’s IKEA yesterday inspected Darvoobrabotvane VT, the Bulgarian company’s CEO Atanas Vasilev told Profit.bg.

The representatives of the Swedish company came to see how the company’s new project was going, Vasilev explained.

The latest project of Darvoobrabotvane AD envisages the production of about 250,000 armchairs and 100-150,000 chairs a year. It will be almost completely financed by IKEA and will be repaid with ready production.

The management of the Swedish company was impressed by what had been done so far and the strict observation of deadlines, Vasilev said.

IKEA needs about 1 mln armchairs a year and expressed its readiness to buy the whole amount from Darvoobrabotvane VT.

“We expect the new varnishing unit to be completed by 6 June and to start the production of the nil series by the end of the same month. We are currently supplying and installing the machines. The staff is undergoing training courses”, Vasilev added.

In an interview for Profit.bg Atanas Vasilev said the new project would create 100 new jobs. Mass production is expected to start in August.

Darvoobrabotvane VT is one of the companies planning to list its stock on BSE-Sofia. The company has already chosen a broker for its subscription – BenchMark Finance.

Only a week ago Darvoobrabotvane AD increased its capital from 828,000 leva to 3.4 mln leva using the money accumulated in the “Reserves” fund in 2005 and 2006. The company posted a 617,000 net profit in 2005 and 351,000 net profit in 2006.

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