Zaharni Zavodi AD has Invested BGN 5.07 Million During 2006

BGN 5.07 million have been invested in the modernization and reconstruction of the production capacity of Zaharni Zavodi AD, according to the annual report of the company’s published on the site of BSE – Sofia.

The biggest part of the investment – BGN 3.869 million went to their Alcohol Plant and another BGN 751 000 to the Sugar Plant. The capital was mainly used for the purchase of new equipment, automatization of the technological process and for solving important ecological problems.

Following a decision of the Board of Directors from 26th February 2007 , Zaharni Zavodi AD is to co-found a new company Agrarna Bulgari AD together with Agrarna Zuker Vienna.

The company will be founded with a capital of BGN 400 000 allocated in the same number of shares with a nominal value of BGN 1.00. Agrarna Zuker Gmbh Vienna owns 51 % of the company’s capital while Zaharni Zavodi AD will hold 49%.

Agrarna Bulgaria AD’s main activity will be the distribution of Zaharni Zavodi AD’s production and of the production of its affiliated company Zahar EAD.

In 2006 Zaharni Zavodi’s net profit amounted to BGN 100.573 million against BGN 67.101 million for the previous year. The company reported a net profit of BGN 2.142 million against BGN 430 000 in 2005.

Among the company’s more important markets for 2006 are Croatia, Slovakia, Turkey, Russia, Poland, Macedonia and Greece.

Today 7 shares were traded on this position at levels of BGN 83.86 and BGN 84.00 each.

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