Australian Lempriere opened second factory for wool near Sliven One of the largest traders of wool worldwide-Australian Lempriere Wool invests EUR 10 million in a processing plant in Sliven. It is expected to officially start work in June. It’s hardly the third plant of the company out o Australia after India and New Zealand. At present 85 people are hired as investor’s intentions are their total number to reach160. The plant is located at an area of 18 thousand square meters. New premises and equipment of warehouses are constructed in a year and a half at the place of the ex textile enterprise of Edoardo Miroglio, that moved to Yambol some time ago. Total capacity of the plant is for processing of 500 tons of wool monthly or around 6000 tons wool annually. Produced in Lempriere Wool-Sliven wool will be used mainly in production of clothes and for furniture. About 20% of processed in the Sliven-based plant wool remains for the local market. Main customers of the company in Bulgaria are Edoardo Miroglio’s plants and Plovdiv-based Bulsafil. The rest 80% will be exported predominantly for Europe- Romania, Turkey, the Czech Republic, Slovakia, Poland and Italy.
Source: Capital (05.05.2016)

Rozhee Vanden Berhe BG renews production of woolen carpets The sole enterprise for woven carpets in Bulgaria Rozhee Vanden Berhe BG, successor of the popular Sliven-based factory Decotex envisages investment of EUR 2 billion by the end of 2016, as well as modernization of its production. Launch of two new weaving machines is also planned, as the first will start operation. One of the new weaving machineries will allow restoration of woolen carpets’ production under innovative technology. Noe the company does not produce woolen carpets and works predominantly with polypropylene. Besides investment in new machines the company invests in construction of a new administrative building, which will be ready by the start of the summer. Sliven-based company has eight looms and produces about 70 thousand number of carpets monthly. The production base is located on an area of 15 thousand square meters. Since the initial acquisition of the assets of the Belgian company investments in equipment and improving the buildings exceed EUR 10 mln.
Source: Capital (06.06.2016)

Decotex doubled its profit year on year in June Decotex AD ended June with a profit of BGN 50 thousand against BGN 27 thousand in the same period of 2015, shows the interim report of the company. For comparison, the Sliven-based company ended the first quarter with a loss amounted to BGN 10 thousand on consolidated base compared to profit of BGN 247 thousand in the end of March 2015. This means that profit in the second quarter amounted to BGN 60 thousand. The revenues from sales reached BGN 1.485 million in the first six months of 2016, compared to BGN 1.140 million at the end of June last year. During the period from January to March they amounted to BGN 743 thousand, meaning that in the second quarter the company managed to double its sales. The assets of the textile company as of 30 June remained almost unchanged in the amount of BGN 20.675 million from BGN 20.715 million at the end of last year. Liabilities amounted to BGN366 thousand compared to BGN 456 thousand as to December 31, 2015.
Source: investor.bg (20.07.2016)

Bulgarian garment manufacturers not afraid of Brexit It appears Bulgaria's garment manufacturers are not afraid of the Brexit referendum results. Over the past few years, the largest share of their output has been exported mainly to the UK. "Last year saw an increase in the export of Bulgarian garments to the UK", said Rdina Bankova, chairperson of the Bulgarian Association of Apparel and Textile Producers and Exporters (BAATPE). In her words, the Brexit effect will not be felt in the textile sector in Bulgaria for another two or three years. "After UK leaves the EU, I do not expect any significant shocks, regarding the trade between our two countries," she added. "The only potential danger I see is rooted in a possible decrease in the purchasing power of the UK companies, following devaluation of their national currency," Bankova went on to say. Most of the Bulgarian garment producers export 100% of their production. Garments are exported under the Outward Processing Trade scheme ("Ishleme"/ "Lohn"-System) and subcontracted by Turkish, Greek and Western European buyers. Many major European brands and retailers sell garments produced in Bulgaria. Bulgaria's garment sector carries a high weight for the national economy in terms of employment and exports and supplies most European fashion brands. About 100 000 people work in the garment industry in registered employment, with women making up 86% of the workforce. The industry is concentrated in the south west and southern central regions of the country. More than 80% of the garment companies are owned by Bulgarians.
Source: Standart (16.08.2016)