Bulgarian Vitales To Set Up JV with Dutch Co
Bulgarian forestry and logging company Vitales in Teteven, central Bulgaria, is to set up a joint venture with an unnamed Dutch company, Vitales executive director Borislav Bechev said on February 11, 2003.
Bulgarian forestry and logging company Vitales in Teteven, central Bulgaria, is to set up a joint venture with an unnamed Dutch company, Vitales executive director Borislav Bechev said on February 11, 2003.
The joint venture will operate a small fish processing factory. This is Vitales' third foreign partner. The company has successful partnership ties with Swedish furniture chain Ikea and a Greek company, which have invested 540,000 Bulgarian levs ($297,000/277,000 euro) in Vitales. The money was used for buying additional timber processing equipment. Vitales was privatised in 2000 by a management-employee buyout company.