Wienerberger Paints Gloomy Forecast for Bulgaria Market

The Austrian company, which opened its completely modernized factory in the Bulgarian town of Lukovit in the summer of 2008, continues to consider smaller acquisitions. File photo

Wienerberger, the world's leading maker of bricks, expects its business in Bulgaria and Romania to shrink.

Even though the figures for the second quarter are good, we expect the markets in the United States, Romania and Bulgaria to stagnate, the company chief financial officer CFO Willy Van Riet told the media on Wednesday.

The Austrian company, which opened its completely modernized factory in the Bulgarian town of Lukovit in the summer of 2008, continues to consider smaller acquisitions, Van Riet said at a press conference in Vienna.

The world bricks manufacturer invested EUR 25 M in the renovation of the old factory known as "Uspeh Lukovit" ("Success Lukovit") in the small Bulgarian town to turn it into the most modern of its type in the Balkans.

The Wienerberger AG factory in Lukovit is located 120 km away from Bulgaria's capital Sofia. At the time of its launch it was the first factory of its type to meet the very latest EU standards for energy efficiency, environmental protection, and safe working conditions.

The project for the new factory was created in Vienna. The modernization started in September 2006.

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