SOFIA (Bulgaria), June 16 (SeeNews) – Odelo Bulgaria, part of the German automotive supplier odelo Group, is relocating the production of spare parts for headlights from Germany to a new plant near Bulgaria’s second largest city, Plovdiv. currently under construction, reported local media.
The spare parts production lines currently installed in the company’s other factory in Bulgaria in the Trakia Economic Zone (TEZ) near Plovdiv will be relocated to the new premises where production will be expanded with additional equipment and employees, business news portal Capital .bg was reported earlier this month.
Only the series production of lights remains in the company’s plant, as Odelo Bulgaria takes over a significant part of this activity from the odelo Group’s plant in Prebold, Slovenia.
Earlier this year, TEZ SeeNews announced that Odelo Bulgaria is building a 10 million euro (12.1 million US dollar) plant, which will be spread over 12,000 mÂ² and will produce spare parts for vehicle lighting systems. The work on the construction of the new plant will be carried out by the local company Miks Construction and should be completed in October, announced Capital.bg.
Odelo Bulgaria plans to invest 4.5 million euros in the construction of the new factory and another 1.3 million euros in the delivery of machines this year.
Odelo Bulgaria’s turnover rose last year from 4.7 million euros in 2019, the company’s first year of operation, to 11.9 million euros. The plan for this year is to achieve and further increase sales of 23.9 million euros. For 2025, sales of 91.9 million euros are expected. According to a media report, the company is expected to exceed EUR 100 million in sales in 2026.
Around 240 employees currently work at Odelo Bulgaria. It is expected that the number of employees will increase as the company expands. Odelo Bulgaria plans to hire over 100 employees in 2021 and sees over 600 employees by 2025, as the report also shows.
In October 2019, the government announced that Odelo Bulgaria had inaugurated a â¬ 40 million plant for the production of taillights in TMZ and that the facility is expected to employ almost 400 people by 2023. Odelo Bulgaria also has a research and development center in the capital Sofia, which opened in early 2019.
Odelo Bulgaria works with 20 of the largest automotive companies in the world, whose main customer is Mercedes-Benz. According to the report from Capital.bg, the company’s portfolio also includes BMW, Volkswagen, Renault, Audi, Skoda, Ford, Porsche and Bentley.
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Bulgaria, local media reported.