Margarita Dimitrova

Seven investment projects, totaling BGN 42 mln, have been implemented by Bulgartabac Holding LTD for a period of two years, announced Ivan Billarev, the company's CEO. In 2010, half of the funds was absorbed, while by the end of 2011 all  of the investments will be completed. The projects include the purchase of new lines for production and packaging of slim cigarettes and tobacco- cutting machines for two factories in the cities of Sofia and Blagoevgrad.

According to Billarev, 2010 was one of the most profitable periods for the company. A serious growth in sales was also reported. Over the past few months, the share of the domestic market has also been stabilised. The revenues from the exported cigarettes increased by 86 %, while the general exports volume rose by 58%.

Within two months, the cigarette company will resume its exports to Japan. Negotiations are also being held for the sale of Bulgarian cigarettes in Israel, South Africa, Jordan and in the countries of North Africa, announced Alexander Manolev, Chairman of the Board of Directors. Moldova, Slovenia, Croatia and Poland are be the new market destinations projected by the company. At the end of last year, the company ralised its first exports to France.