MD ELEKTRONIK, based in Waldkraiburg, Germany, announced that it plans to invest $12.7 million in a new plant for making automotive cables in Vratsa, Bulgaria.
Per media reports, the company said that plans to build a production plant near Sofia, the capital of Bulgaria. There, the new entity, to be called MD ELEKTRONIK EOOD, will make data cables and electronic components. Production is expected to start in 2020, and will create some 300 new jobs.
"The location in Bulgaria and the associated increase in flexibility play an important strategic role in our global production network, in particular, for our customers in Europe," said Ralf Eckert, a member of the company’s management board. The Bulgaria location was selected for the good educational level, its central location, well-established infrastructure and logistical framework conditions, the company reported. The plant is in an industrial area that is close to the border with Romania, a busy area for numerous automotive manufacturers and system suppliers.
MD ELEKTRONIK also reported that it is expanding its Waldkraiburg campus, where it has begun construction of a new technology center with a total floor area of some 4,400 sq m. The completion and commissioning of the building are planned for 2019. This follows prior growth activity, which in 2015 saw MD ELEKTRONIK GmbH open sales offices in the U.S. and China. To strengthen its presence in the NAFTA area, it also founded MD ELEKTRONIK de México S. de R.L. de C.V. in 2015 and built a new plant in León (Mexico) that opened in 2016.