Germany's MD Elektronik to Invest 11 Mln Euro in New Production Base in Bulgaria
Germany's MD Elektronik intends to invest 21.5 million levs ($12.5 million/11 million euro) in setting up a production base in the city of Vratsa, in northwestern Bulgaria, the economy ministry in Sofia said on Thursday. MD Elektronik is planning to build a new manufacturing plant in the city and equip it with the relevant machines, the economy ministry said in a statement. The 9,950 sq m base, consisting of production, logistics and office buildings, will manufacture data cables, coaxial sub-assemblies, sensors and other electronic equipment. The investment project will create 300 jobs.MD Elektronik, headquartered in the Upper Bavarian town of Waldkraiburg, specialises in the field of data communication solutions in motor vehicles. Currently, MD products are integrated into over 200 car models. The group has production sites in the Czech Republic, China and Mexico.