Trace Group Hold Sets Up New Companies, To Expand on The Balkans and to the Middle East

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Trace Group Hold Sets Up New Companies, To Expand on The Balkans and to the Middle East

Trace Group Hold aims at entering new markets and is setting up new companies to achieve that, the holding told X3News. Shareholders approved distribution of 0.20 leva dividend per share at a recent general meeting and agreed that expansion to other countries on the Balkans and in the Middle East should be the company's main priority this year.

The holding's main office will be moved to the capital Sofia in view of the company's fast development.

Trace Group Hold is planning to expand its construction activities in two directions: establishing itself on the international construction market and investing in important infrastructural areas.

In 2008 the holding will step on other Balkan markets – Serbia, Kosovo, Macedonia. Trace has already worked on a few projects in Kosovo.

Together with eight other Bulgarian companies and the Bulgarian Construction Chamber, Trace established the Bulgarian Constructor union. The joint initiative with these companies (with combined annual turnover of more than 1 billion leva) has several aims: participation in the tenders for the construction of the Olympic village in Sochi, participation in other tenders in Russia, as well as establishment on the international market and accumulating experience in the construction of Olympic facilities.

Trace Group Hold is also investigating the opportunities to expand to markets in the Middle East. Its negotiations in this direction are already at an advanced stage and Trace Group is now a recognized company in this prosperous region.

Trace Group recently established the company Trace Commerce in order to unite the activities related to delivery of technological equipment and supplies. The holding's ambition is to turn the young company into one of the most important trade representatives for the construction sector on the Balkans.

Trace Commerce has already signed a contract with the Swiss Basler Lacke AG and became its representative in Bulgaria and in the region.

Another newly established enterprise Trace Holiday EOOD is becoming very successful in the tourism business. At the end of march 2007 the company bought a 6.5 decare plot in Super Borovetz, where it plans to build a modern multifunctional resort complex that would operate all year round. Some 5 million leva has already been invested in the initiative.

Part of the funds generated un the IPO was used to purchase 100 road construction machines, among which 4 mobile asphalt bases with a capacity of 150 – 180 tonnes/hour. The facilities can be dissembled, relocated and put together again within a few days.

30 of these machines have already been delivered. The rest are expected by the end of September. The new equipment will help the company boost its production capacity and make it competitive on an international scale.

The companies responsible for the deliveries ate Virtgen Bulgaria, Sim S. P. S. Italy, BM Leasing Trade, Inovex Bulgaria.

RIS-MT EOOD was set up to manage the company's metal construction production.

Trace Group Gold has initiated the procedures for registering the following new companies – RIS-MT, Trace International, Trace Commerce, Trace Holiday and Road Facilities and Wayside Signalling.

With these, the group's units become 19.

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