According to diverse media sources, Turkish company Dubleks Glass is investing in an auto glass manufacturing plant in Svilengrad, which will be registered under the name Penta Glas, with production start up in September.
Turkish company Dubleks Glass plans to open an auto glass manufacturing plant in Svilengrad.
In a recent interview, a representative of Turkish investor, Sebahtin Ismail, confirmed these plans, adding that it is raising capital and that it will be registered in the Trade Register by the end of June, under the name Penta Glas, with production start up in September.
A local news portal also presents the investment plans of the Turkish company, indicating the deserted industrial building of the Menderes textile factory for the new plant.
The plant, which will also manufacture flat glass for refrigerators, will be majority-owned by Mustafa and Ramazan Bayrak, who own several companies for bus glass and car glass in Bursa and have been developing the business for nearly 30 years.
The initial investment in the Svilengrad-based plant amounts to Eur 8.8 million, including Eur 4 million for machines and equipment, Eur 2.5 million dedicated to repairs and upgrades of the buildings, Eur 2 million for circulating capital, and the remaining Eur 300,000 for staff training, quality certificates, and other accompanying costs.
Equity stands at Eur 1.2 million and the remainder will come from leasing and bank loans.
Talks are reportedly underway with two banks, which have expressed serious interest in financing the project.