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Electronics manufacturer Escatec, headquartered in Malaysia but Swiss-owned, is the latest investor in Plovdiv. Plovdiv, after making a major investment for a new manufacturing facility in the area as part of its strategy to rapidly expand by nearshoring (the practice of transferring a business operation to a nearby country) in Europe. BalkanEngieer.com has learned this from Trafficnews.com.
The new production facility in Plovdiv will be the company's ninth globally. The 4,000 m2 building is already operational and has the necessary equipment, processes and skilled workforce to meet Escatec's production needs for Europe. The company is ready to expand its production capacity in Plovdiv if order volumes increase.
The company's managing director and director of strategic development, Charles-Alexander Albin, said the company's management had been attracted by the activity achieved by other factories already operating in the area. He added that Bulgaria, as a member of the EU, has the potential to benefit from the current strong trend of niche manufacturing in Europe. However, this requires a joint effort from all parties, including the state and municipalities, to present Bulgaria in the best light to potential investors.
Escatec designs and manufactures electronics and electromechanical products for the manufacturing, medical and transport sectors. Initially the company plans to focus on the manufacturing sector in Plovdiv, but there are plans to expand into the medical and transport sectors, as well as eventually entering the automotive industry.
Photo source: Escatec