Zaharni Zavodi Expects 2007 Consolidated Sales To Reach 90 Mln Leva

Zaharni Zavodi Expects 2007 Consolidated Sales To Reach 90 Mln Leva

Zaharni Zavodi expects its 2007 sales to reach 90 mln leva (46.016 mln euros). The total volume of production last year stood at 7 mln liters, which is almost three times above the 2006 volume, the company said.

Revenues from sales of ethyl alcohol are projected to constitute more than 12% of the group's consolidated sales.

The company is planning to boost the production of ethyl alcohol to 11 mln liters in 2008, which will considerably improve its market share.

Zaharni Zavodi made significant cuts in material and energy costs. Costs on steam were reduced almost twice last year, the company also spends 10 times less on water. The reduction of energy costs is mainly due to the operation of the company's own Thermal Power Plant, using imported coal as fuel.

The company managed to boost production and sales after the installation achieved the targeted capacity of 40,000 liters per day.

The equipment and machines were delivered by the German EUGEN SCHMITT. After the introduction of the new equipment the ethyl alcohol plant operates at 100% of production capacity. The amount of orders is currently exceeding its capacity.

In 2007 the ethyl alcohol plant started exporting to EU countries, mainly to Austria, Greece and Italy, where Bulgarian ethyl alcohol is used in the production of high-quality liquor. Zaharni Zavodi expects to sign contracts with similar enterprises in Germany as well.

Until recently Bulgarian liquor producers were importing ethyl alcohol from Ukraine and Russia, however, their preferences are shifting to Zaharni Zavodi's production.

251 shares changed hands this morning at prices between 13.35 and 13.56 leva.

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