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E. Miroglio plan investment of BGN 55M in its textile factories in Bulgaria

YarnsandFibers News Bureau 2014-02-28 11:35:00 – Bulgaria

E.Miroglio is one of the most important European textile company constantly growing and in a few years was able to positioned itself among the world leaders in the production and sale of yarns, and woven and knit fabrics. Today E.Miroglio is composed of 7 production and corporate units placed in Sliven, Yambol and Svishtov in Bulgaria, Alba and Valli del Pasubio in Italy. The E.Miroglio company plans to invest BGN 55M in its textile factories in Bulgaria's cities of Sliven, Yambol and Svishtov during this year.

The owner of the enterprise Edoardo Miroglio said that each year they invest some BGN 10M – 15M in their textile factories in Sliven, Yambol and Svishtov. The part of the investment will come from European programs.

Their investment in Svishtov factory is entirely focused on improving the quality of products and the preparation of dyes which will help expand further into the global markets. While, the construction of the new factory in Sliven will open jobs for about 140 people and will cost BGN 25M and the Yambol factory will be equiped with new machinery, and part of the funds will come under the Enhancing Competitiveness project worth BGN 3.52M, said Miroglio.

Projects involve replacement of old equipment, increase product range and building of new premises for the production of fabrics introducing an innovative technology which has not been used in Bulgaria hitherto.

The Miroglio textile companies export products to 65 countries and sell to more than 6000 customers. In 2013, E.Miroglio reached a turnover of BGN 210M. As they plan investment in their textile factories, by the end of this year they have plans to achieve a turnover of BGN 240M, and in 2015 they hope to earn some BGN 264M.

In 2012-2014 E.Miroglio has increased its staff by 300 people. Currently, the three factories in Bulgaria employ a total of 2,300 people.

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