European Bank Invests €10.5 Million in Boni Holding15 October 2013
BULGARIA - One of the biggest meat processing companies in Bulgaria – Boni Holding AS - is to modernise and expand its business operations with a loan from the European Bank for Research and Development (EBRD).
The fresh capital of €10.5 million, which was agreed last week, will be used to finance the company's investment programme, focused on modernisation of the pig farms and the meat processing plants.
The investment programme includes new machines and equipment, modernisation of the existing pig farms and the purchase of new farms, improving the microclimate and feeding systems in order to minimise the direct production costs.
Boni Holding is the biggest supplier of pork in the country. The company owns pig farms in Shumen, Krumovo, Tetrahib, Brestak, Zimen and Gradishte.
The holding works in a partnership with the leading company in pig genetics – Danbred in Boni's Hybrid Center for pig-breeding in the city of Shumen, where each pure-bred animal is registered in the database of Danbred and receives a certificate for quality from the Danish company.
The company also owns meat processing plants in the cities of Lovech, Karlovo and Ruse.
In 2011, the Bulgarian company invested around BGN7 million – BGN1.3 million in pig breeding and BGN5.7 million in its meat processing facilities.
Most of the investment was in the “Lovech” meat processing plant for the construction of dryers with a capacity of 200 tonnes of raw-dried products and construction of a warehouse for cold storage in freezing temperature with a capacity of 1,500 tonnes.
In 2012, the company started a project for a high-tech slaughter house, which is to be situated near the meat processing plant in Lovech.
Owner of 88 per cent of Boni Holding AS capital is its founder and manager, Borislav Nikolov. The company's revenues have almost doubled from BGN78 million in 2007 to BGN150 million in 2012. The holding’s profit for 2012 was BGN5.2 million and the group employs 1,200 people.
ThePigSite News Desk