Bulgartabac Plans to Increase Exports to Middle East
Business | April 2, 2012, Monday // 17:12| views
The Bulgartabac corporate headquarters in downtown Sofia. File photo
Bulgaria's largest cigarette maker Bulgartabac plans to export a total of 15.5 billion cigarettes to the Middle Eastern market this year and achieve a further 7% export growth to the region in 2013.
The company has pointed out in a statement that it has achieved a double digit growth in its exports to the Middle East since 2008 – by 45% in 2008 and 2009, by 115% in 2010 and by a further 25% in 2011.
Bulgartabac recently took part in the World Tobacco Middle East event in Dubai together with some 100 other producers.
The event attracted visitors from over 30 countries including the United Arab Emirates, Iran, Egypt, Bahrain, Jordan, Saudi Arabia, Greece, Turkey, Qatar, India, Pakistan and Yemen
In one of the controversial Bulgarian privatization deals, Bulgartabac was sold by the Bulgarian government to a subsidiary of the Russian bank VTB for EUR 100.1 M in September 2011.
The company completed 2011 with a net profit of BGN 31.3 M.
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