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 | Sofia District Court entered changes for Republica SP Ltd. - Svoge: transfer of 80 per cent of the company's shares, respectively 80 per cent of the company's total capital, in the amount of BGN 113 231 thousand, through privatization by the state of Kraft General Foods International JSC, Rye Brook, New York, USA. Source: State Gazette (11.11.1994) |
| | Sofia Distirct Court registered Thompson SP Ltd. having its registered office and principal place of business in the village of Thompson, Sofia Region, and subject of activity: manufacture of biscuits, chocolate drops, etc.; commercial activity in the country and abroad. The company is with unlimited term, capital BGN 17 131 thousand distributed in 17 131 shares of BGN 1000 each; the company is formed through its separation from the company Republica SP Ltd. - Svoge and assumes the respective part of the assets, liabilities and other rights and obligations; the company shall be represented by the Manager Mr. Asparuh Vasilev Kolev. Source: State Gazette (11.11.1994) |
| | PA announced that during the period November 1994 - January 1995 were made the following deals - Daru Invest Ltd. Sofia has purchased 60 per cent of the capital of Astika SPJSC, Haskovo. The deal was concluded after negotiations with potential purchasers. The price of the deal is USD 600 000. 26 per cent of this sum will be paid in cash and the other 74 per cent will be paid in bonds on the foreign debt of Bulgaria. INTERBREW S., Belgium has purchased 70 per cent of the capital of Kamenitza SPJSC, Kamenitza. The price of USD 4 876 000 will be paid in cash Source: State Gazette (21.02.1995) |
| | Sofia District Court entered a change for Kraft Jacobs Suchard - Bulgaria JSC - Svoge, Sofia Region; increase of the capital to BGN 223 852 000 through listing of 223 852 personal shares of BGN 1000 each, as follows: 205 628 shares of Kraft Foods International JSC; through monetary payment BGN 205 628 000 and 18 224 shares of nine physical entities through non-monetary payment BGN 18 224 000. Source: State Gazette (16.04.1996) |
| | "Kraft Jacobs Suchard-Bulgaria" JSC will increase its capital with USD 3 million up to USD 16,700, reported the Financial Director of the company Thomas King. Source: Pari (10.01.1997) |
| | Sofia District Court entered a change for Kraft Jacobs Suchard - Bulgaria JSC - Svoge, Sofia Region: enters increase of the capital with BGN 99 648 000 through the issuing of 99 648 new shares of BGN 1000 each. Source: State Gazette (25.03.1997) |
| | The General Meeting of the shareholders of "Kraft Jacobs Suchard Bulgaria" JSC took a decision to increase the company's capital from the amount of BGL 2.49 billion up to BGL 5.392 billion. The total increase will be buyed from the main company's shareholder "Kraft Foods International Inc." which already has held 99.74 per cent from the company's capital. 80 per cent from the capital of the chocolate factory "Republika" SPLtd. (Svoge) was sold to "Kraft General Foods International" for the amount of USD 2 million in the end of 1993 which after that purchased 2.08 per cent remaining and unsold shares in preferential terms. The main company's shareholder acquired the present per cents from the capital through several company's capital increases. The amount of USD 18.188 million is invested in the chocolate factory from 1993 up to 1997. Source: Capital (07.07.1997) |
| | Sofia District Court entered changes for Kraft Jacobs Suchard Bulgaria JSC - Svoge: dismisses Ms. Penka Veselinova Evstatieva - Burzakova as a member of the Supervisory Board of the company and appoints Mr. Pierre John Oliaro. Source: State Gazette (06.08.1997) |
| | The foreign investments in Bulgaria up to June 31, 1997 is in the amount of BGL 1.1 billion. The foreign investments for 1996 are in the amount of USD 282 million and for the first half of the current year in the amount of USD 307 million. The greatest investors in the country are "American Standard", "Nestle", "Suchard" and "Shell". Germany is the investment leader with the total investments in the a mount of USD 230 million, Belgium is second with investments in the amount of USD 171 million. The Privatization deal of the state-owned copper plant "MDK - Pirdop" JSC will equalize the amount of German and Belgian investments in Bulgaria. Source: Kontinent (29.09.1997) |
| | Sofia City Court registered changes for Kraft Jacobs Suchard Bulgaria JSC: enters increase of the capital from BGN 436 731 000 to BGN 572 869 000 through the issuing of 136 138 new personal shares, ordinary, with voting rights of BGN 1000 each. Source: State Gazette (10.10.1997) |
| | Sofia City Court registered changes for Kraft Jacobs Suchard Bulgaria JSC: enters new registered office and principal place of business - Sofia, Serdika Region, 92 Maria Luisa Blvd.; dismisses the members of the Managing Board Mr. Joseph Schmidt, Ms. Darinka Markova Despotova, Mr. Jean Cristophe Montini, Mr. Luben Petrov Isaev, Mr. Joseph Simon; elects new Managing Board with the following members: Mr. Bernhard Huber, Ms. Darinka Markova Despotova and Mr. Joseph Simon. Source: State Gazette (10.10.1997) |
| | Sofia City Court registered a change for Kraft Jacobs Suchard Bulgaria JSC: increases the capital from BGN 572 869 000 to BGN 1 042 409 000 through the issuing of new 469 540 paperless, personal, ordinary shares with voting rights of BGN 1000 each. Source: State Gazette (27.11.1997) |
| | Sofai City Court registered changes for Kraft Jacobs Suchard Bulgaria JSC: enters changes in the company's statutes; erases as members of the Supervisory Board Mr. Pierre John Oliaro and Mr. Alois Fink; enters as members of the Supervisory Board Ms. Natasha Toteva Tzvetkova and Mr. Michelle Joseph Boon; enters as Chairman of the Supervisory Board Mr. Michelle Joseph Boon; erases the members of the Supervisory Board Mr. Bernhard Huber, Ms. Darinka Markova Despotova and Mr. Joseph Simon; enters new Managing board: Ms. Darinka Markova Despotova, Mr. Georgios Konstantinos Diamantopulos and Mr. Joseph Clare Simon; enters as Chairman of the Managing board Mr. Georgios Konstantinos Diamantopulos; enters as Executive Director Ms. Darinka Markova Despotova. Source: State Gazette (03.12.1997) |
| | Sofia City Court registered a change for Kraft Jacobs Suchard Bulgaria JSC: enters increase of the capital from BGN 1 042 409 000 to BGN 1 156 359 000 through the issuing of 113 950 new paperless personal ordinary shares with voting rights of BGN 1000 each. Source: State Gazette (10.12.1997) |
| | Sofia City Court registered changes for Kraft Jacobs Suchard Bulgaria JSC: increases the capital from BGN 1 156 359 000 to BGN 2 901 699 000 through the issuing of 1 745 340 new paperless personal ordinary shares with voting rights of BGN 1000 each. Source: State Gazette (07.01.1998) |
| | Sofia District Court entered a change for Kraft Jacobs Suchard Bulgaria JSC - Sofia: moves the company's registered office and principal place of business from Sofia to Svoge. Source: State Gazette (23.01.1998) |
| | "Prima Lacta" Ltd. sells 700 kg milk powder per day. In January 1998 in the enterprise was installed a new technology and thus the monthly production is 100 tones milk powder. In 1997 the company had a profit of BGL 400 million. The company's production consumers are: "Nestle - Sofia" JSC, "Kraft Jacobs Suchard" JSC and "Delvi P" JSC. Source: Trud (13.03.1998) |
| | Sofia District Court entered changes for Kraft Jacobs Suchard Bulgaria JSC - Svoge: dismisses Ms. Darinka Markova Despotova from her position as a member of the Managing Board and Mr. Michelle Joseph Boon from his position as a member of the Supervisory Board; enters Mr. Michelle Joseph Boon as a member of the Managing Board and Mr. Thomas Alexander King as member and Chairman of the Supervisory Board; enters Mr. Michelle Joseph Boon as executive director of the company; enters increase of the company's capital to BGN 5 391 929 000 through the issuing of 2 490 230 new paperless, nominal, ordinary shares with voting rights of BGN 1000 each; enters changes in the company's statutes; the company shall be managed and represented by the Executive Director Mr. Michelle Joseph Boon. Source: State Gazette (08.04.1998) |
| | One of the oldest and biggest Bulgarian auditing companies - Afa began work in general company together with Earnst and Young in Bulgaria. The latter executes accounting service for the company Danone-Serdika JSC. Source: Capital (03.07.1998) |
| | "Kraft Jacobs Suchard Bulgaria" JSC received a certificate ISO 9001 for introducing of equipment of quality in the company's factory in Svoge. The company produces and sells 10,000 tons of confectionery per year. Source: 24 chasa (27.11.1998) |
| | According to statistical data, in 1997 Bulgarian consumers drank 19 million l of natural juices. In1998 this amount is already 48 million l. The expected consumation for 1999 is 52 million l. The big companies producing natural juices in Bulgaria are Florina, Papi, BBB and Queens, which hold 80 per cent of the market of natural juices in Bulgaria. The brand Florina first appeared on the Bulgarian market in 1993, it was introduced by the Greek company Florina-Bulgaria JSC. BBB natural juices are produced by the company Link. The leading company importer of natural juices is Northern Star, which is distributor of the Hungarian natural juices PACIFIC OCEAN for the Bulgarian market. The most famous brands of instant soft drinks present on the Bulgarian market are Step and Fructus. Lately, these two drinks are faced with the strong competition of Tang, produced by Kraft Jacobs Suchard - Bulgaria Ltd. This brand is world-famous and sold in more than 20 countries worldwide. Source: Cash (21.07.1999) |
| | Sofia District Court entered in the Trade Register changes for Kraft Jacobs Suchard Bulgaria JSC - Svoge: elects new Supervisory Board with the following members: Mr. Julio Fintzi - Chairman, Mr. Peyo Stoyanov Stoyanov - Deputy Chairman; and Mr. Marcello Aslanovich Gasparov; elects new Managing Board with the following members: Mr. George Konstantinos Diamantopulos - Chairman, Mr. Geoffrey Stephen Turner - Deputy Chairman, and Mr. Michelle Joseph Boon - Executive Director; enters changes in the company's statutes; denominates the capital from BGN 5 391 929 000 to BGN 5 391 929 shares with a nominal value of BGN 1; the company shall be represented by the Executive Director Mr. Michelle Joseph Boon. Source: State Gazette (05.10.1999) |
| | Vinprom SPLtd. - Svishtov is one of the three best Bulgarian companies, according to Bulgarian Chamber of Industry and Commerce. For the last couple of years Vinprom SPLtd. - Svishtov has been cooperating with Japanese Sumimoto Corporation. Its output is exported in Great Britain, Japan, Russia, Poland and China. Source: Standart (27.12.1999) |
| | Soluble drinks as a whole hold the greatest share from the non-fizzy drinks in Bulgaria. The Step products of Candy are sold in nine different variations. The trade brand is produced on Swiss license. During April Kraft Jacobs Suchard launched a noisy advertisement campaign of the new soluble drink Tang. Source: Capital (01.01.2000) |
| | Coca-Cola established on the market last year the new Fanta Exotic. In April 1999 Kraft Jcobs Suschard a new solving drink Tang, enriched with vitamine C. Two months ago Kendy - Bankja launched a new series solving drinks Melody. They are made of dried fruits, enriched with vitamine C and are offered in 6 flavours. Lines Holding is another company operating in this branch in Bulgaria. Recently it started producing a new series of natural juices branded BEST. Source: Capital (18.03.2000) |
| | The top tenth producers of soluble drinks include the following companies - Kraft Jacobs Suchard 45.5 per cent of the total sales, Vina del Mar (Fructus Abrosoli) 19.6 per cent, Candy - 13.8 per cent, Eurostok - 6.4 per cent, Banda & co (Fructo Drink) - 0.8 per cent,G.B.Amrosoli Italy - 0.2 per cent . Source: Capital (18.03.2000) |
| | Sofia District Court registered a change for Kraft Jcobs Suschard Bulgaria - JSC, Svoge: there was registered a new company - Kraft Foods Bulgaria - JSC. Source: State Gazette (09.06.2000) |
| | Sofia District Court registered changes for Kraft Foods Bulgaria - JSC, Svoge: Mr. George Diamantopulos was dismissed from the Board of Government; Mr. Gerhald Pleus was registered for a member and Chairman of the Board of Government of the company; there was registered a change in the statute of the company. Source: State Gazette (18.08.2000) |
| | The Austrian concern Billa made Mr. Dimitar Spasov an Executive Director of the Bulgarian branch of Billa. He was a marketing Director in Billa for Austria and then for Eastern Europe. After 6 years in Austria Mr. Spasov is coming back in Bulgaria in order to manage the business of Billa in Bulgaria. Source: Capital (09.10.2000) |
| | The second by size company for chocolate products in Bulgaria - Nestle, is leader at the markets in Russia and Ukraine through its local companies. The soluble coffee Nestle is at the first place on a regional level leaving behind Kraft foods at the sales of soluble coffee. The creators of nescafe are leader also in Slovakia, Russia, Poland and Croatia. Source: Capital (01.01.2001) |
| | Sofia District Court registered a change for Kraft Foods Bulgaria - JSC, Svoge: Mr. Zdzislav Rinkevich was appointed for a prosecutor of the company; he will manage and represent the company. Source: State Gazette (02.01.2001) |
| | The market of quick turnover goods in Bulgaria is a typical market for Eastern Europe. The market leaders in the different commodity groups are the multinational producers - for the chocolate - Kraft Foods, for the instant coffee - Nestle, for soft drinks - Coca Cola. Kraft Foods holds 79 per cent of the market for chocolate in Bulgaria. The second company by market capitalization is Nestle. By its local subsidiaries the company is leader on the markets in Russia and Ukraine Nestle are second in the regional competition as well. Nestle is ahead in the producing of instant coffee. The creators of the instant coffee are leaders in Slovak, Russia, Poland and Croatia. Source: Capital (06.01.2001) |
| | The chocolate producer Kraft foods Bulgaria will buy the producer of Nova Brasilia coffee. The company referred to the Competition Protection Commission and is expecting a result by the end of February. The price of the purchase is kept in secret but it will not be under USD 15 million, according to acquainted in the coffee business. There is also a version that the trade mark in Bulgaria was bought for USD 20 million and another USD 15 million were given for the factory. Source: Capital (05.02.2001) |
| | Sofia City Court registered Espresso SPLtd. The head-office and the address of the company is Sofia Nadejda region. The activity of the company is domestic and international trade, export and import, re-export. The capital of the companyu is BGN 5000. Owner of the company is IFJ Ltd. The company is managed and represented by Mr. Raymond Hauned. Source: State Gazette (09.02.2001) |
| | According to data of marketing agencies the share of the illegal import is about 10 per cent of the market of sugar products - mostly Turkish sugar products. The Turkish sugar products are offered to the traders without invoices, explained the Trade Director of Zaharni zavodi - Gorna Oriahovitza Ms. Iliana Sotirova. Zaharni zavodi - Gorna Oriahovitza has already initiated a legal case against a company that produces lemon slices. Source: Capital (09.03.2001) |
| | Competition Protection Commission allowed the merger of Craft Foods Bulgaria and the company Espresso - a producer of the coffee Nova Brasillia. Espresso is 100 per cent property of IFJ S.A.L. from Lebanon. sofil and Vek - 98 are subsidiaries of Espresso. Vek 98 produces the coffee and Sofil distributed it. 79.9 per cent of the coffee at the domestic market is Nova Brasillia. Source: 24 chasa (12.03.2001) |
| | Sofia City Court registered the transformation of Espresso SPLtd into Espresso SPJSC. The head-office and the address of the company is Sofia, Nadejda region, bl. 301. The activity of the company is export and import, manufacture and trade with coffee, other products, which contain coffee, other auxiliary activities,any other activity that is not forbidden by the law. The capital of the company is BGN 8 500 000, distributed in 85 000 personal shares with face value of BGN 100. Owner of the company is IFJ Ltd., Lebanon. As members of the Board of Directors are registered Mr. Reymond Hauend - Executive Director, George Freigh - Chairman and Mr. Klod Aun. The company is represented by Mr.Mr. Reymond Hauend and Mr. George Freigh together and separate. The company takes the assets and liabilities of Espresso SPLtd. Source: State Gazette (30.03.2001) |
| | Sofia City Court registered changes for Espresso - SP JSC: the capital is increased from BGN 8 500 000 to BGN 10 500 000 through issue of new 20 000 shares with face value BGN 100. Source: State Gazette (30.03.2001) |
| | Kraft Jacobs Sushard, Bulgaria JSC and Alpina Ltd - Sofia have made donations to Future for Bulgaria Foundation 1999-2000 on October 5, 2000. Source: Other (04.04.2001) |
| | The deal for the purchase of Nova Brasilia from Kraft Foods finished, was reported from the auditing company PriceWaterhouseCooper which was the main financial consultant of the company IFJ SAL, the owner of Nova Brasilia. The contract for the sale of Nova Brasilia was signed on January 26, 2001 and the deal was approved by the Competition Protection Commission on March 6. Kraft Foods Bulgaria was selected as a preferential candidate and won not only because of the offered price but also because of its obligation to develop further more this business. The products of Nova Brasilia possess more than 70 per cent from the coffee market. Source: Pari (06.04.2001) |
| | The multinational trade marks of coffee, cigarettes, alcohol, cosmetics, chocolate penetrated on the Bulgarian market mainly through dealers from the Near East and Greece. For the first seven years of the trade, especially wholesale trade and the distribution on the free market, passed under the powerful Arabic influence. More specifically Lebanese. The businessmen from this branch are not members of BIBA (Bulgarian International Business Association). The dimensions of this wholesale trade are a mystery. According to company research only the distribution and logistics bring DM 0.5 billion. The most detailed information comes from the Agency for Foreign Investments. It says that in the area of trade and repair for the last three years were invested USD 430 million. Even if of this amount is removed the USD 55 million of Metro and Billa and is supposed that half of the rest of the money are gone in the area of repair, the sum for Lebanese and Greek investments is great. Recently the power of the traders from the Near East seems to lessen. The most eloquent example is that the pioneers of the Lebanese business in Bulgaria - the creators of Nova Brazilia, sold their family business to Kraft Foods. Not long time ago the partners of Stambuli said that the company has announced that it had financial problems. Later it has solved the problems with a help from the bank. Stambuli are a family of Cyprian Lebanese. They import a wide range of products. Besides the own the store chain Bonjoir. The company plans to invest in a textile factory in the Rhodopes. Source: Capital (28.04.2001) |
| | Huts Spot Thompson started the advertisement campaign of Jacobs coffee, since Kraft Foods launched especially for the Bulgarian market the products Jacobs monarch, Jacobs espresso and Jacobs cappuccino The communication strategy for popularization of the products includes advertisements on BNT. bTV, MSat, radio-commercials, press-campaign and external advertisements. Source: Capital (26.06.2001) |
| | Milka and Nescafe are well-known and widely-distributed international marks that are old at the Bulgarian market. Nescafe has been imported in Bulgaria for 30 years and the boom of Milka was in the 80s. They are sold quicly and are popular. Even officially imported these products make good money turnovers. This also stimulated the subsidiaries of Nestle and Kraft foods in Bulgaria to start an independant import. They took the business respectively with Nescafe and Milka when at the market appeared hypermarkets like Metro. Source: Capital (01.08.2001) |
| | Sofia City Court registered changes for Expresso SPJSC. As a sole proprietor of the capital is wrote IFJ Ltd. As members of the Board of Directors are wrote off Mr. Raymond Hauend, Mr. George Freigh and Mr. Klod Aun. As a sole proprietor of the company is registered Kraft Foods Bulgaria. As members of the Board of Directors are registered Mr. Michelle Bun Chairman, Mr. Zdzislav Rinkevich Executive Director and Mrs. Yana Kotasova. The company is represented by the Executive Director Mr. Zdzislav Rinkevich Source: State Gazette (31.08.2001) |
| | Sofia District Court registered a change for Kraft Foods Bulgaria - JSC, Svoge: the capital of the company was increased from Source: State Gazette (04.09.2001) |
| | Several years ago the import of Turkish sugar products was a huge business. However during the past years this trend began to slow down. For the last 3-4 months only Nestle launched 15-20 new good products - for example the waffles Mura trio, Mura sandwich. The problem of the factory is that there are not enough capacity to respond the demand, was reported from Mix express that is distributor of Nestle. Source: Capital (01.10.2001) |
| | The Sugar and Sugar Products Producers Union thanked in public to Customs Agency for the measures for ceasing the illegal import of sugar products in the country. This will immediately affect our sales on the domestic market is said in a letter signed by the Directors of Kraft Foods Bulgaria Svoge, Crystal Sugar factory, Pobeda Bourgas, Sugar Plants Gorna Oryahovitza and Bulgaria Sugar Dolna Mitrpolia. The letter was published in the national newspapers. Source: Capital (01.10.2001) |
| | Sofia City Court accepted the annual accountant report of Kraft Foods Bulgaria JSC as of 2000. Source: State Gazette (16.10.2001) |
| | Sofia City Court registered amendments in company's statute for Kraft Foods Bulgaria JSC, Svoge. As a member of the Supervisory Board of the company is wrote off Mr. Julio Finci and is elected Mrs. Yana Kotasova. As a member of the Managing Board and Executive Director of the company is wrote off Mr. Michelle Bun and is registered Mr. Zdzislav Rinkevich. Source: State Gazette (16.10.2001) |
| | Kraft Foods started advertisement campaign for Nova Brazilia coffee. The product, which the company purchased from Sofil, during April already has new packing and image. The advertisement campaign includes 171 presentations on BNT, bTV and MSat, massive press-campaign, 252 billboards, radio advertisements, promotions, explained the representatives of Huts Spot Thompson, which attends the coffee products of the company. Source: Capital (01.11.2001) |
| | Ogilvy & Mather Advertising Sofia ceased a weak ago the planned outside advertisement of the price promotion of the Svoge 100 gr. chocolates of Kraft Foods with advisable price of BGN 0.90. The reason is that planned quantities of chocolates in promotional wrappings were sold quicker than it was expected, explained representatives of the advertisement agency of Kraft Foods. According to the management of the company the sales are due mainly to the active television, poster and outer advertisement campaign. Source: Capital (12.11.2001) |
| | As of the beginning of 2000 Kraft Foods Bulgaria ( along with the present importer Alpina) started the import of the Milka products. Nestle Bulgaria started the import of Nescafe as of April. It is claimed that in the portfolio of Nestle Sofia the Nescafe by this moment has the same meaning as the waffles and the biscuits, produced in Bulgaria, at least because a ton of waffles costs BGN 1000 and a ton of Nescafe - USD 40 000. The fact that the Bulgarian companies of the mega-companies took the import themselves is a guarantee that it will be legal. The biggest importers and distributors from the shadow period were also legalized. Nova Brazilia, was purchased by Kraft Foods Bulgaria. Kraft managed to attract as distributors some of the greater importers of Milka products from the past. Source: Capital (15.01.2002) |
| | Sofia City Court registered changes for Kraft Foods Bulgaria JSC, Svoge. The court registered the merger of Espresso SPJSC, Sofia, without liquidation. The activity of the company is changed to manufacture, distribution and marketing of chocolate, cacao and confectionery, export and import of chocolate and coffee. The court registered change in the statute of the company. Source: State Gazette (22.01.2002) |
| | After the Ariana brewery, now Kraft foods assigned its media advertisement to Ogilvy&Mather Sofia. Fom the advertising company reported that it will take the media-planning and the media-purchasing of the trade marks Svoge, Sezoni, Moreni,Siesta, Suchard, Milka, Wafelini, Toblerone, Forte and Republika. The agency will work for Nova Brazilia and Jacobs coffee trade marks whose creative strategy remains in Huts Spot Thompson. Source: Capital (01.02.2002) |
| | Magnis Ltd is an exclusive distributor of Kraft Foods Bulgaria JSC in Bourgas region. The biggest trade company in the region works with more than 1000 stores on the territory of Bourgas district. It is an exclusive trade representative of Dr. Jotker Bulgaria JSC, Alpi Commerce - Asenovgrad and Fobos - Pazardjik. Source: Company information (01.03.2002) |
| | The German company Lindner Holding will invest BGN 20 million by the end of the year, in completing the second stage of the construction of Business park Sofia. The first stage of the realization of the largest investment in the field of real-estate property in Southeastern Europe was officially finished on Friday. The realization of the first stage costs BGN 50 million, and the total investment in the Business Park Sofia project is BGN 200 million. A total of 32 buildings, based in park environment will be constructed on an area of 250 000-sq. m. during the next 10 years. In the larger part of the already finished office-buildings have been hired areas by Kraft foods - Bulgaria, Germanos, Sony - Bulgaria, Gruppa 4 Securitas - Bulgaria, Hilti Internations, Schneider Electric, Lindner, Unilever, etc. According to Colliers Continental Properties - exclusive mediator in rendering and sale of areas in Business Park Sofia, the offered hire prices are the lowest in Sofia. One square meter office-area in a building that corresponds to the European class A could be used for EUR 11.7 (VAT not included). Source: Dnevnik (17.06.2002) |
| | The competition at the coffee market is extremely big. Some of the traders even think that it is stronger than in any other sector. The market has shrunk. In May and June it is with 10 per cent less than in the same months of 2001. At the packed coffees the coffee Nova Brasilia continues to be a leader. However its market share dropped from 60 per cent over the last June to 45 per cent during June, this year. Second in the list is Elite that almost reached the 40 per cent of Nova Brasilia. Spetema kafe also reported a growth. Source: Capital (30.07.2002) |
| | Sofia region is the Bulgaria's largest region (by area - 7.062 thous. M2), and has the most municipalities (22). It is nearest to the capital. The biggest green-field investments in Bulgaria are also probably made here (the Belgian company EPIC in Botevgrad, the Italian company Miroglio in Elin Pelin, the coffee factory Kraft foods in Kostinbrod, Coca Cola, etc.). The biggest region in Bulgaria also has the widest industrial range, relatively low level of unemployment and relatively high amount of foreign investment. Greenfield investment are the coffee-baking factory Kraft Foods Bulgaria, the company Olineza, which produces the popular mayonnaise, cans, etc. The main employer in Svoge remains the factory of Kraft Jacobs Suchard Bulgaria. The biggest employers in Svoge provide more than 1500 job positions, according to the municipal administration. Source: Capital (15.09.2002) |
| | According to Mr. Jeremy Rifkin /author of The Age of Access/ XXI-th century is an epoch during which the access to information is the most important thing. During 1988 Phillips Morris purchased Kraft for the price of USD 12.6 billion. This price was six tomes bigger than the real value of the concern. This deal showed that the investment in advertisement not only does not promote the sales but it also is a useless investment in the market value of the company. It is not surprising that after this case the advertisement budget were sharply increased. The idea trade becomes the trade of future. Source: Pari (09.10.2002) |
| | Sofia City Court accepted the annual accountant report of Kraft Foods Bulgaria JSC as of 2001 Source: State Gazette (04.02.2003) |
| | Sofia City Court registered the following changes for Kraft Foods Bulgaria JSC.
-amendments in companys statute
- as members of the Supervisory Board are re-elected Mrs. Yana Kottasova - Chairman, Mr. Peio Stoyanov- Deputy Chairman and Mr. Marchelo Gasparov - member
- as members of the Managing Board are re-elected Mr. Zdzislav Rinkevich - Executive Director, Mr. Gerhard Pleus - Chairman of the Managing Board and Mr. Jofri Turner - Deputy Chairman
- the company is represented by the Executive Director Mr. Zdzislav Rinkevich Source: State Gazette (04.02.2003) |
| | The two Bulgarian margarine producers and the two main importers have already got a matched competitor. Recently, the English-Dutch company Unilever, which bouth the production of Kaliakra margarine announced that for the current moment, they are not planning to stop the production of Kaliakra, which a leader on the market, and will try to increase the market share. It is now 50 per cent, and they are going to try to increase it to 60-70 per cent. This will affect mainly Olineza and Bella. The market share of Kaliakra on the Bulgarian market in 2002 was 56 per cent, according to GfK - Bulgaria data. The sales of Kaliakra have grown, but Bulgarian traders keep big amounts in store. The current management of the Dobrich-based company refused to comment. According to data by MEMRB Retail Tracking Services, in September- October 2001, for example, the market share of Kaliakra was 51.9 per cent, Olineza - 16.8 per cent, and Bella - 10.6 per cent. A year later, over the same two-month period, the share of Kaliakra dropped to 48.6 per cent, Olineza lost over three per cent (13.4 per cent), and Bella (after introducing the brand Tommy) - 21.1 per cent. In 2002, the production of Olineza margarine kept its level of around 3500 tons, announced the company's Executive Director Mr. Ivan Yankov. Source: Capital (28.02.2003) |
| | The only one specialized producer of filters and packing for cigarettes in Bulgaria Plovdiv Yuri Gagarin reported a growth of 28.14 per cent in its market share over the last year. The growth is due mainly to the orders of foreign companies. During 2002 about 15 per cent of the production of the company was for export. Among the clients of the Plovdiv-based factory are Nestle, Kraft Foods Suchard, Solvex, GloBul-Bulgaria, Kristal Plovdiv, leading companies from the Balkan Peninsula, Central and Eastern Europe. Source: Monitor (07.07.2003) |
| | Sofia District Court registered changes for Kraft Foods Bulgaria JSC, Svoge: dismisses the former members of the Supervisory Board; registers a Supervisory Board with the following members: Mr. Damion Bernard Walkiers, Mr. Peyo Stoyanov Stoyanov, and Mr. Marcello Aslanvich Gasparov; dismisses the former members of the Managing Board; registers a new Managing Board with the following members: Mr. Joffrey Stephen Turner, Mr. Zdzislav Rinkevich and Mr. Gerchard Wilhelm Pleus Chairman; the company shall be managed and represented by Mr .Zdzislav Rinkevich. Source: State Gazette (03.02.2004) |
| | Kraft foods bought 100 per cent from the property of Nova Brasilia the biggest producer and distributor of coffee in Bulgaria. According to representatives of the company, Kraft foods holds about 70 per cent from the Bulgarian market of coffee. The company also offers Jacobs coffee. Among the most selling brands in the State is also Spetema. Spetema coffee Ltd. has own distribution structure that covers the territory of Bulgaria. Source: Cash (01.03.2004) |
| | VALtronic was founded in 1992 as a company orientated to electric engineering and electronics. Gradually the firm develops in three basic trends: Trade throughout Bulgaria in apparatuses and electro technical materials with application in low voltage installations; Production of switchboards and systems for distribution, industrial control and automation. Engraving of panels with CNC machine; Engineering department, closely related to the production section, conducting the new tendencies in electric engineering and generating innovative technical solutions. In the course of 11 years we created a web of regional offices in the country, directed to wide range of customers: infrastructure, OEM, wholesale trade, retail trade. VALtronic is disposing of over 40 highly qualified collaborators, 30 of them engineers. The company participated in construction of electrical distribution installations and equipment in nationally recognized building projects as: Air Control Centre- Sofia, Central Universal Store - Sofia, "Lukoil Neftochim" - Bourgas, "Kraft Foods Bulgaria" Ltd - Svoge, "Shell - Bulgaria" etc. Source: Company information (12.05.2004) |
| | Allianz Bulgaria IRC offers two types of property insurance for big facilities Industrial fire, and All risks in industrial facilities, that form the predominating volume of its incomes from property insurance. McDonalds, Umicore, Kraft Foods, Actavis, and Kronospan are some of the companys serious clients. Source: Banker (19.06.2004) |
| | The sales on the ice-cream market in Bulgaria have increased compared to the previous year due to the establishment of new objects, development of new products and investments in new production lines. Still the competition is lead among the market leaders Delta, Darko, Fenix, and Jimmys but started in 2004 Russian ice-cream Petroholod has been trying to make its way. According to the trade director of Jimmys parlor Mr. Lyubomir Getov the consumption of ice cream is going up but particular data can not be provided, as an independent research of the market has not been made so far. As per him the variety of products made the Bulgarian to buy ice cream for outdoor and indoor consumption though its price is not available for all. Few days ago Jimmys presented on the market a new product developed together with the chocolate products manufacturer Kraft Foods Bulgaria JSC Svoge. This is the first of a kind project that Kraft Foods develops together with Bulgarian Company. As a result of this the ice cream parlors offer new type of ice cream with a piece of Moreni wafer. The talks were started in the beginning of this year and the project should be approved by the Krafts office in Vienna, Mr. Getov said. The companys strategy is going to the clients rather than having them come to it. Thats why Jimmys are planning to open new objects in the Business Center in Sofia district Mladost 4, in Arena 2, Mall of Sofia and other pubic places. Market participators claim that in 2004 Darko is successfully competing with the long-lasting leader of the packed ice creams Delta. According to Drakos President Mr. Petar Tzvetkov the sales have jumped with 18-20 percent y/y. In 2003 this Bulgarian Company developed a project for establishing a subsidiary that immediately opened a confectionery and pavilion chain for decorated ice cream. There are 15 new objects in whole country of the Ice Line chain for the past month. In 2004 Delta promoted on the market 3 new economic ice cream series - Nice, Kiss Familia, as the companys purpose is to enlarge the range and at the same time to offer to consumers new ice cream at a lower price. The company rejected to point their market share but they reported a growth of 3 percent y/y. Delta said that the most serious market problems are connected to the low consumption per capita and the sales seasonality. In the previous year Fenix made the market more dynamic and became popular with its ice cream Pianeddi mixed with fruit, biscuits, and decorated on an attractive manner. This year the company opened 10 new places in Sofia and extended its trade chain in the country. The company formed a 15 percent growth of its sales of 2003. However a trend of unfair imitation is observed in the past weeks on the Sofia and other towns streets. An ice cream is being offered decorated on a similar way but with unknown producer and no hygiene norms followed. We rely on the loyal clients and on those looking for the quality and who may distinguish us, the Fenixs manager Ms. Viara Genova. Its been the second season in which the Russian ice cream Petrohold is being sold in Sofia and some other towns. Petrohold is manufactured in St. Petersburg and is imported by Petrohold Bulgaria. The companys president Mr. Esai Stepanian announced that an idea for investments and creation of a plant for production of the Russian ice cream in Bulgaria has been discussed but there is no decision so far and the matter is not of present interest. He pointed that since 2003 almost a double growth of the sales is posted. We are striving for the leaders positions and do not will to compete with the local manufacturers, but well try to increase our sales. Source: Dnevnik (09.07.2004) |
| | A subsidiary of the Greek croissant producer Chipita has acquired the Royal Foods Holding assets for confectionery production, reported the Athens News Agency, and the parties has confirmed the information before the Capital daily. The deal was concluded on Friday, June 23, in Cyprus, because the transaction was accomplished through Cyprus subsidiaries. The price of the deal was not announced. Chipita acquired all the assets necessary for the production of the so-called Swiss rolls, as well as the Royal Foods Holding trademarks. The main acquisition of Chipita is the two factories in the town of Elin Pelin and the village of Thompson, as well as the already developed rolls and cakes domestic market. The 2003 Royal Foods annual sales of confectionery are EUR 13.5m, half of which coming from domestic market sales and the rest from exports. Major rolls markets are those of Eastern Europe, the Balkans and the Arab states. Last year Chipita Bulgaria achieved sales of EUR 14.5m on the domestic market, and the revenues from exports of products manufactured in Bulgaria were some EUR 20m, with the exports directed to the Balkan states and Central and Eastern Europe. In practice, after the deal the Greek company, which is number one on the croissant market in Bulgaria with a share of 77-78 percent, has become a leader in the rolls too. The other Bulgarian croissant producers are Pain DOr, 22 carats, Pobeda, etc. Royal Foods commented that they were the only big producer of Swiss rolls in Bulgaria. I cant guess what our share in the Swiss rolls is, for there is no such a segment. If we take the whole confectionery branch, excluding the chocolate candies, Royal Foods share is below 10 percent, said the CEO Mr. Tzvetan Lajanski. In the words of another spokesman of the branch, the waffles hold the biggest share of the sweet snacks domestic market 60-70 percent, the croissants around 7-10 percent, and the rolls and the cakes 3-4 percent. In terms of turnover, the first two companies are the Bulgarian subsidiaries of the multinational companies Kraft Foods Bulgaria and Nestle Bulgaria. The most recent data available about the chocolate factory in the town of Svoge are from 2001 and according to them, sales amounted to BGN 89m, but these included products such as coffee, instant juices, etc. In 2003 Nestle achieved a turnover of BGN 86m, but the revenues included the sales of non-confectionery products like Nescafe, dry soups, etc. Third among the confectionery companies ranks Chipita, which is going to add to its turnover next year the revenues from the Royal Foods rolls and cakes and will probably melt the difference with the two big chocolate producers. The other major producers are the Bourgas-based factory Pobeda, which according to data of the company itself is the biggest local producer of biscuits, the Gabrovo-based chocolate and candies producer Stancho Kolev, the dry pastry factory Balkan, etc. The Commission on Protection of Competition (CPC) permitted the deal. The approval of the Commission was necessary because the turnover of the two companies, participating in the concentration, exceeds BGN 15m. According to the CPC the common features of the Chipita and the Royal Foods products are that they are made of flour and have their own package, but the difference is that croissants are bought impulsively and consumed outdoors, while rolls are eaten at home. According to the CPC study, the products of Chipita belong to the low-price bracket, as the final consumer usually pays between BGN 0.40 and 1.00 for them. The Royal Foods products are priced at between BGN 1 and 1.50. That is why, according to the Commission, these are two different markets for home consumption and for immediate consumption and concentration is permissible. The Swiss rolls are a perfect complement to the Chipita product portfolio, commented Mr. Tzvetan Lajanski. The Greek company refrained from commenting its future plans for the time being, until it gets to know its new acquisition. Royal Foods did not announce the official reason for selling out their confectionery business. Only the Russia-based factory for rolls and cakes remains in the holding. Besides, the company portfolio of Stefan Sharlopov (majority owner of the Royal Foods Holding) includes the Devin mineral water, the blanched Royal Potatoes and the two hotels in Pamporovo and Devin. Source: Capital (07.08.2004) |
| | Unipack JSC Pavlikeni is established in 1967 in Pavlikeni. The enterprises construction is financed totally by the State, which is typical for the centralized economy. In the years of the socialistic rule the most modern technologies are introduced in the plant which makes it one of the biggest producers of packing products in the country.
Competitive advantages
The local Unipack s advantage is that the company is the only producer of cached aluminum foil with paper and cardboard with possibilities for offset print and flexoprint, painting and polishing. The other advantage is the significant production capacity and the broad product range.
Stock Exchange trade
The Stock Exchanges statistics show that as of year 2000 so far 67 538 shares have been traded, representing almost 60 per cent of the companys capital. The average price for the period is BGN 10.17 per share. The block trades data is even more impressive. Currently this market segment reports a turnover of BGN 3.790 formed by the transfer of 123 389 companys shares, which means an average price of BGN 30.72 per share. Judging by the statistic data, the company has been actively traded on the Stock Exchange, but in fact it is not like that. The considerable turnover on this position has been formed mainly by single deals for appreciable shares volume. The extensive big price range in which these deals have been concluded shows that the aim has been realizing of financial profits that were permitted by the legislation years ago. The last deal on this position dates to June 21, 2004 with 12 shares at the price of BGN 2.66 per share. Presently the market starts on a level of BGN 2.76 downwards with only one sale offer for 18 shares at a price of BGN 13.
PRIVATIZATION
In 1997 the state sold 67 per cent of the company's capital in the first wave of the mass privatization. The major buyer on the centralized auctions has been Severcoop-Gamza Holding JSC. On May 18, 1998 the Privatization Agency (PA) has sold 24 992 companys shares through an auction. 22 per cent of the capital has been bought by the Cyprus-registered offshore company Profitec Enterprises Limited LTD for the amount of USD 545 000.
6.6 per cent of the company have been sold on preferential terms, and another 14 per cent have been allocated for restitution claims. For half an year the state remains with 2881 shares, representing 2.53 per cent of the capital, 65 shares of which were let out on the 7th centralized auction on a price of BGN 172.90 for the stake. The securities were bought for the price of BGN 250.25 which makes a price of BGN 3.85 per share.
Business partners and competitors
The companys production does not stand a far-off transportation as it gets more expensive and becomes unmarketable. Thats why Unipack deals mainly on the domestic market, and the exports share for the last few years is about 3 per cent.
Clients
The main companys clients are the plants of Bulgartabac Holding JSC - Sofia , Pobeda-Bourgas JSC - Bourgas , Niko - Ravno pole LTD - Ravno pole, Aroma JSC - Sofia, Kraft Foods Bulgaria JSC - Svoge, Slancho JSC Svishtov, ntime Distribution and Logistics SPLTD - Sofia, Daisymex SPLTD - Haskovo
Competitors
Because of the companys activity, usually the main companys competitors are Bulgarian companies including Chaika-Varna JSC Varna, Plovdiv Yury Gagarin BT JSC Plovdiv, Lesichevo JSC Trud, Sugar Plants JSC - Gorna Oryahovitza, STS Holding Group LTD Gabrovo.
Market position
The core activity is the production and the trade in packing of paper and cardboard. This is one of the biggest enterprises for packaging production in th country and the only one to produce cached aluminum foil with paper and cardboard. The main technology equipment has been put in operation in the period of 1970 - 1998, and the secondary one to the machines for warm printing and laminating in the period after 2001. The production structure is divided into following types: packaging from paper and cardboard, extruded papers with and without printing, cached aluminum foil with paper, packaging from polypropylene, paper shells, envelopes, and paper-bags. During the past few years over 95 per cent of the sales have been realized on the domestic market. The Unipaks products meet the European standards required to the foodstuffs packaging.
Unipack JSC Pavlikeni has a quality certificate ISO 9001.
The company has been keeping its revenues level in the past years. In 2003 the net revenues from sales are amounted to BGN 11.332 million, which is only BGN 21 000 more than in 2002. The net receipts to the first half of 2004 are BGN 5.932 million which is 12 per cent more than the same period last year. the main part of the proceeds (about 28 per cent) are formed by the sales of cashed foil with paper.
The company has been working at toll processing, as the first 2004 half revenues are amounted to BGN 1.207 million. In the years following the companys privatization it has kept its market position and has reported positive financial results. The net companys profit for 2003 is to the amount of BGN 18 000. The before tax profit for the first half of the year is BGN 161 000. This is one of the few Bulgarian companies that distribute dividends to its shareholders each year.
One of the investments granted in the first 2004 half is the purchase of Ema drying machine, worth BGN 28 000.
SWOT analysis
Advantages
One of the biggest enterprises for manufacture of packagings in the country with a significant manufacture capacity;
broad product range.;
availability of modern technological equipment providing high productions quality;
the only manufacturer of cached aluminum foil with paper and cardboard close cycle;
traditions in the manufacture;
highly qualified staff;
ISO 9001 quality certificate.
Opportunities
Improving the companys marketing strategy and establishing of more flexible policy towards the individual orders;
Extension of the presence on the foreign market after Bulgarias joining to the EU.
Disadvantages
Broken stowage of the manufacturing power;
High level of the competitiveness in the branch;
Unfair competition by the importers mainly from Turkey and China;
Loss of domestic markets share for the previous years;
Weak advertising companys policy;
Lack of mobility in the small and the individual orders.
Risks
A loss of a market share after the privatization of Plovdiv Yury Gagarin BT JSC Plovdiv which is one of the main Unipacks competitors. Source: Cash (13.08.2004) |
| | The big companies from the food branch, which are Unilever Bulgaria SPLTD Sofia, Kraft Foods Bulgaria (Kraft Jakobs Sushard Bulgaria) JSC Svoge and Nestle Bulgaria JSC Sofia have declared their willingness to become members of the Bulgarian association of the food and drink industry (BAFDI). This have been announced by the chairman of the managing board of the association Aleksander Yocev, after the election meeting of the day before yesterday. The accepted changes in the statute allow membership not only for branch organizations in the area of the food and drink industry, as it was till now, but also to companies. The applications of the companies shall be considered the next month on the first meeting of the managing board of BAFDI. According to the new statute, the big companies will present on the general meetings, but they wont have the right of vote. BAFDI stays an organization with non-trade purpose, it is not a presenter of cooperative interests, explained Yocev. The new members can take part of working groups, as well as they can give expert opinion for the standards developed for the section. At this moment the member s of BAFDI are 11 branch organizations. With a decision of the general meeting, the 3 members managing board is replaced with chairman one, in which will take part representatives of every member-organization. Source: Monitor (07.10.2004) |
| | The companies for production of ice-cream, chocolate and diary products insist the regime for import of dry milk from the EU to be lightened, because it is the main raw material for their products. The customs conditions and quotas for this year will significantly increase the prime cost of the products and this will reflect to the end consumers' price, and also will decrease the exported quantities, stated from the companies. This will mainly hit the "big players" on the market, among which are Delta, Nestle, Kraft Foods, Danone, etc. When the companies import raw material from EU and third countries they have granted tariff quota of 3 thous. tons for which they pay no customs duty. The alleviation, however, will operate from July 1, 2005, and the quota for the period July 2004 - June 2005 has already been used in the autumn of the last year. Through the rest time, the customs duty is 64 per cent of the imported raw material. This significantly raises the cost of the Bulgarian production and makes it not-competitive. Source: Dnevnik (13.01.2005) |
| | NSSI announced the top 20 most loyal employers with a personnel of 500 to 1000 people for 2004, insuring a total of 39 148 men with an average insuring income of BGN 562.
The company is included in the list. Source: Other (08.02.2005) |
| | Kraft Foods Bulgaria will invest BGN 1 mln in the production at its factory in Svoge, near Sofia, of chocolate products for export to Scandinavia, Mr. Christoph Wenisch, executive director of the company, said. The goods will be shipped in the second half of 2005 with annual target set at 500 tons. Kraft Foods Bulgaria said advertising and marketing spending will increase by 25 per cent in 2005. The company spent BGN 6.9 mln on TV ads last year to rank as the nation's no.6 media-buyer, shows data of TNS/TV Plan. Source: Dnevnik (22.02.2005) |
| | Top 50 of the biggest TV advertisers for 2004
Advertiser Budget Media Agency Ad agency
1 Procter&Gamble 21 242 380 MediaSZenith Grey Worldwide, Ideo Saatchi & Saatchi
2 Coca-Cola Company 10 275 520 Zenith Advertising and Communications McCann Erickson, Noble Graphics Creative Studio (Cappy)
3 Unilever 9 025 378 Ogilvy&Mather (MindShare) Lowe Swing, Ogilvy&Mather (, Dove)
4 Nestle 8 149 189 Huts/Spot Thompson, Universal McCann DDB Sofia, Huts/Spot Thompson, McCann Erickson
5 Wrigley's 7 297 027 Graffiti BBDO Graffiti BBDO
6 Kraft Jacobs Suchard 6 903 153 Ogilvy&Mather (MindShare) Huts/Spot Thompson, Ogilvy&Mather
7 Golden Brayan (Lepten Gold) 6 173 438
8 Mtel 5 897 292 Marketing communication, Argenta Demner, Merlicek&Bergmann
9 Brewinvest 5 849 143 Graffiti BBDO, Huts/Spot Thompson, Ogilvy&Mather (Zagorka, Ariana) Graffiti BBDO, Huts/Spot Thompson
10 Henkel 5 520 428 DDB Sofia DDB Sofia, Graffiti BBDO, TBWA\ Sofia
11 Ficosota Syntez 4 970 075 OptiMedia Bulgaria K+K advertising marketing
12 Vinprom - Peshtera 4 693 035 MediaSZenith Euro RSCG Sofia (Black ram, 6-th Sence), Huts/Spot Thompson, NewMomentNewIdeas, Ogilvy&Mather (Persona), TBWA\Sofia
13 Globul 4 615 093 SUN Media Fresh Club Advertising, MAG Adveretising, Noble Graphics Creative Studio (b-connect)
14 SIS Industries 4 382 658 Directly DDB Sofia, Lowe Swing (Savoy Golden Club Whisky), Noble Graphics Creative Studio, Ogilvy&Mather (Karnobatska grozdova)
15 Carlsberg (Shumensko, Pirinsko) 3 518 033 Zenith Advertising and Communications Publicis MARC Advertising (Pirinsko), Noble Graphics Creative Studio ()
16 Interbrew 3 450 446 Universal McCann Euro RSCG Sofia (Kamenitza), Lowe Swing
17 Danone 3 466 172 The Champions/Y&R Euro RSCG Sofia, The Champions/Y&R
18 Germanos 2 931 369 DDB Sofia DDB Sofia
19 Beiersdorf 2 527 190 Piero 97 Cress, TBWA\ Sofia
20 SC Johnson 2 484 396 Mediamark/ZenithOptimedia
21 Berlin Chemie 2 401 455 Ogilvy&Mather (MindShare)
22 Colgate Palmolive 2 237 982 Argent, Marketing communications
23 Laboratoires Garnier 2 223 132 Mediamark/ZenithOptimedia Publicis MARC Advertising
24 Allianz Bulgaria Holding 2 011 387 Graffiti BBDO Graffiti BBDO
25 Chipita Bulgaria 1 701 405 DDB Sofia Huts/Spot Thompson
26 Glaxo SmithKline 1 665 346 OptiMedia Bulgaria, Universal McCann Grey Worldwide, K+K Advertising and marketing, Ogilvy&Mather (Panadol)
27 First Investment Bank1 650 880 Marketing communications Grey Worldwide, KIWI Advertising, Ogilvy&Mather
28 DZI/ Roseximbank 1 540 325 Directly TBWA\ Sofia
29 Aroma 1 527 822 The Champions/Y&R The Champions /Y&R
30 Clairol 1 457 598 MediaSZenith Leo Burnett Sofia
31 Master Foods 1 410 198 Grey Worldwide Graffiti BBDO, TBWA\Sofia
32 Diltour 1 399 094 Ogilvy&Mather (MindShare) N/A
33 Agrima Holding 1 396 913 Graffiti BBDO Graffiti BBDO
34 Rubella 1 300 820 Zenith Advertising and Communications
35 Ficosota 1 203 150 OptiMedia Bulgaria K+K Advertising and Marketing
36 Schwarzkopf 1 174 482 DDB Sofia DDB Sofia, TBWA\Sofia
37 Gillette 1 110 959 Ogilvy&Mather (MindShare) Ogilvy&Mather
38 Bank DSK 1 067 627 Business Data/FCB, Mediamark/ZenithOptimedia Mediamark, Interpartners, Publicis MARC Advertising
39 Stambouli 1 059 612 Piero 97 Cress
40 BTC 1 033 679 MediaSZenith NewMomentNewIdeas
41 Ellite Bulgaria 965 244 Directly, Argenta N/A
42 Maccar 952 237 Directly N/A
43 Ricochet 925 605 Argent, Marketing communicatios
44 Allied Domecq 917 918 Mediamark/ZenithOptimedia, Ogilvy&Mather (Tullamore Dew) Euro RSCG Sofia (Finlandia), Publicis MARC Advertising (Ballantine's), Ogilvy&Mather
(Tullamore Dew)
45 McDonald's 912 427 DDB Sofia DDB Sofia
46 Alexandra Films 889 414 Directly, Piero 97 N/A
47 Sinhron Invest 868 596 SUN Media N/A
48 L`Oreal 806 011 Universal McCann McCann Erickson
49 The Boots Company Pls. 786 813 McCann Erickson McCann Erickson
50 Sarantis Bulgaria 782 956 Marketing communication N/A Source: Capital (12.03.2005) |
| | The National Social Security Institute announced the list of the first quarter of 2005 top 50 most loyal employers with a personnel of 500 to 1000 people, insuring a total of 39,278 people with an average insurance income of BGN 575.
The company is included in the list. Source: Other (09.05.2005) |
| | Information of the top 50 most loyal employers with an average personnel of 500 to 1000 people, insuring a total of 38,668 employees with an average month income of BGN 602. The information is for the first half of 2005.
The company is included in the list.
1 Umicore Med JSC - Pirdop
35 Hydraulic Elements and Systems JSC - Yambol
36 Heat Supply-Rousse SPJSC - Rousse
44 Stamboliyski Paper Factory JSC - Stamboliyski Source: Other (08.08.2005) |
| | Bulgarian exports to USA surpass imports
The current trade regime between Bulgaria and USA is regulated by the Agreement on Trade Relations Between the United States of America and Bulgaria (1991), according to which the two parties receive the better of national treatment or most-favored-nation (MFN) treatment, by the Generalized System of Preferences GSP) and by the Agreement on WTO. A treaty concerning the encouragement and reciprocal protection of investment exists between Bulgaria and USA. This treaty was updated in 2004 through one additional article with a view of Bulgarias forthcoming EU accession. According to data by the Ministry of Economy, the bilateral trade between Bulgaria and USA in 2004 total USD 763.5 mln, which represents a growth of 18.5 per cent y/y. The balance is positive and total USD 116.7 mln, which represents a growth of 100.3 per cent. Bulgaria exports to the US mainly textile and clothing, iron and steel, tobacco, mineral oils, furniture. Imports consist mainly of oil, appliances, tobacco products. Over the period 199202003, USA was ranked ninth by foreign direct investments in Bulgaria worth a total of USD 345.5 mln. The biggest US investors in Bulgaria are American Standard (producer of sanitary faience), Aliko (Post bank), Kraft Foods (chocolate factory in Svoge), McDonalds, Seaboard Overseas (Vinprom-Rousse), News Incorporated, etc. The inflow of tourists from the USA has increased over the period 1996-2003 from 7135 to 31 126 people. In 2004, a new rise in the number of US tourists was registered. Their number reached 56 951. Since 1995, an American Chamber of Commerce has been functioning in Bulgaria. It has more than 200 corporate members. Since November 1991, the Bulgarian American Investment Fund (BAIF) has been functioning in our country. It was established by the virtue of the Law on Support of Democracies in Eastern Europe. The fund has a capital of USD 57 mln. In 1006, BAIF created the Bulgarian American Credit Bank (BACB). So far, BAIF and BACB have invested over USD 70 mln on almost the whole territory of Bulgaria, mainly in tourism and SMEs. Source: Sega (17.10.2005) |
| | The National Social Security Institute's Top 50 of the most law-abiding employers with personnel between 500 - 1000 employees, insuring a total of 38 244 people with average insurance income of BGN 608 during January-September 2005.
The company is included in the list.
1. Umicore Med JSC - Pirdop
34. Heat Supply-Rousse SPJSC - Rousse
43 Stamboliyski Paper Factory JSC - Stamboliyski
40 Hydraulic Elements and Systems JSC - Yambol Source: Other (24.11.2005) |
| | A number of new brands are about to appear on the coffee shelves of Bulgarian food stores, jostling for a share of the local market which is growing by 2-3% annually. Coffee makers estimate domestic consumption at 13,000-14,000 tons annually, excluding the instant coffee brands of companies like Nestle and Kraft Foods. Kraft brands Nova Brasilia and Jacobs dominate retail sales, followed by Elite, Douwe Egberts, Tchibo and Lavazza. Lavazza controls 70% of sales at restaurants and cafes, followed by Spetema and Elite. New competition will come from Kraft brand Mastro Lorenzo which started selling in Bulgaria recently. The Turkish coffee brand Meltem will appear on the Bulgarian market soon. The blend, which will be packaged in Turkey, was created especially for the Bulgarian market and will be medium-priced. Source: Dnevnik (14.02.2006) |
| | Food industry is a traditionally strong branch of the Bulgarian economy. It depends to a great extent on the development of the agriculture as it is the source of raw materials for the industry but is also dependent on the machine building and the chemical industries as well as on the transport sector.
There are several basic factors that influence the food industry, the most important of which are
the seasonal nature of the production activities
the climate
the facilities
the workforce
the infrastructure
When assessing all the segments of the industry, one should bear in mind the substantial growth of the food retail trade over the past few years. In the period 1990-2001 alone, the number of grocery stores tripled and after 2001 many large supermarkets
and retail chains set foot in Bulgaria. The increasing number of supe rmarkets allowed food industry companies to take advantage of a large distribution
channel. Thus, little by little, marketing
channels (advertising, promotions, packaging, prices)
have become of vital importance for the choice
of consumers. Food retail sales per capita are still
lower in eastern Europe compared to central Europe.
(see table 1)
In 2005, the average number of fast moving goods
purchased upon a sigle visit to the store grew by
10.3% compared to 2004. As consumption is growing
(up 3.3% in terms of quantity), the frequency of shopping,
in turn, is getting lower (-6.3%). This means that
in the long run Bulgarians will get used to shopping
once a week from the large hypermarkets. In 2004,
hypermarkets accounted for 14% of the spending on
fast moving consumer goods and in 2005 their share is
expected to rise to over 16%. (see diagram 1)
Bulgaria's future EU accession will result in a restructuring
of the food retail sector - the number of
small shops will decrease rapidly at the expense of
the growing number of hypermarkets.
Statistics
Production, processing and canning of
meat and meat products
Meat production and processing is one of the
major sectors of the food industry and it accounts
for approximately 20% of the output of the industry.
In Bulgaria the total average annual meat
consumption stands at a mere 37.6 kg. The meat
processing sector is in fact 100% privately owned
at present. Many small and medium-sized companies
are operating in it. (see table 2)
Processing and production of milk, dairy
products and ice cream
According to data from the National Veterinary
Service, there are 148 dairy farms with an industrial
capacity in Bulgaria at present and 30 small
ones. Data from the Agriculture Ministry shows
that there are 28 companies producing dairy products
(ice cream excluded) which are licensed to export
to the EU. These 28 companies process almost
36% of the collected and processed milk. The
companies licensed to export to the EU accounted
for 27.4% of the cheese and 27.5% of the yellow
cheese production in 2004. (see table 3)
Over the past few years, there has been a growth
in the production of buffalo and goat milk, which are
high in fat content and are much in demand on the
European market. These milk varieties are produced
above all by individual farmers and therefore it is
hard to control the veterinary norms. That is why a
mere 2,000 tonnes of goat milk were processed in
dairy farms in 2004 against a total output of over
125,000 tonnes. Farmers prefer not to sell their milk
to processing companies because of the low buyout
prices, which are the same as those of cow milk - up
to 0.40-0.45 levs per litre. A total 7,000 tonnes of
buffalo milk were produced in 2005 against 4,400
tonnes in the previous year. (see diagram 2)
Production of bread and bakery products
The number of bread and bakery companies
stands at about 4,000. There is also a certain
number of illegal producers but their influence on
the competition is insignificant, especially in large
and medium-sized cities. Data of the National Statistics
Institute shows that the daily consumption
of bread and bakery products per capita dropped
to 330 gr in 2005 compared to 413 gr ten years
ago. Wheat bread accounts for the bulk of this
consumption. There is high demand for fresh and
cheap bread varieties. The share of packaged bread
are on the rise. At present about 12% of all breads
come in a package. Flour prices predetermine over
50% of the cost price of bread. Bulgaria's wheat
harvest reached 3.0 million tonnes in 2005 but
most of it does not have good enough baking quality.
This is due to a great extent to the poor quality
of the wheat caused by this year's floods. The
grain producing sector as a whole is undergoing
certain problems.
Industrial bread producers are among the first to
start covering EU production criteria. Most of the
production facilities built in the past 30 years meet all
of the construction requirements. Bread making does
not require significant investments as an enterprise
of this kind only has 3-4 critical points at the most.
Bread production does not involve many health risks,
which is an advantage to meat or milk production. By
the end of 2006 almost all industrial Bulgarian bread
producers are expected to have introduced HACCP.
The sales of cereals in Bulgaria increased significantly
between 2000 and 2005, especially those of muesli,
cornflakes, etc. According to the latest report of
the Euromonitor marketing agency, the consumption
of this type of cereal had almost doubled in terms of
value over the past few years. In 2005 alone, the turnover
of this market grew by 14%. This, however, only
proves that Bulgarians doe not realise the advantages
of (or cannot afford) wholesome foods. The muesli
sales underwent the sharpest increase (+194%) over
the past five years but it still remains the least popular
cereal in Bulgaria. Despite the increase, the market is
still underdeveloped given the consumption of wholesome
cereals per capita, which stands at an average
110 gr a year, while in the UK it exceeds 3 kg.
Canning industry
The majority of the raw materials for the canned
foods industry are difficult to transport and that is
why most canning factories are located in the regions
where vegetables are produced. There is a
definite upbeat trend in Bulgaria's fruit and vegetable
processing and canning industry,whose 2004
output was over 194,000 tonnes, up 43% compared
to the previous year. Fruit accounted for 67,000
tonnes and vegetables stood at 127,000 tonnes.
Canning accounts for 51% of the entire output of
the fruit processing industry, juices and concentrates
were 13% and frozen fruit were 21%. As
regards vegetables, canned vegetables were 58%,
followed by vegetable juices and concentrates. The
market of convenience foods in Bulgaria was one
of the first to attract foreign investors. Bulgarians
turned out to be quite conservative and at first did
not embrace the idea of convenience foods. Gradually,
however, attitudes started to change and in
2004 Nestle Bulgaria reported selling 37 million
Maggi boullion cubes, which accounted for twothird
of the overall consumption of such products.
The sales of Maggi fix products in 2004 exceeded
by 550% preliminary expectation. Local marketing
tuned to the typical preferences of the Bulgarian
consumer turned out to be a winning strategy.
Production of sugar, chocolate and
confectionery products
According to a research of ER Consult & Management,
in September 2005 there were 1,097 local
sugar, chocolate and confectionery producers in
Bulgaria. NSI data shows that confectionery export
are on the rise marking a 44% year-on-year increase
in June 2005. The increase in chocolate exports was
14% and the rise in the sugar products exports was
54%. The prices of confectionery products is currently
expected to rise by an average 10% as a result
of the almost twofold increase in sugar prices and
the increase in the prices of EU-imported powdered
milk. Bulgarians spend an average annual 250 million
levs on chocolate, chocolate candies, chocolate
desserts and chocolate wafer bars. The market share
of imports ranges between 2% as regards chocolate
wafer bars and 80% as regards chocolate spreads.
Some 30% of the chocolates are imported as well
as 50% of the candy bars. The chocolate products
market can roughly be divided into three segments
- chocolates, chocolate candies and chocolate wafer
bars. The chocolates segment is the smallest, which
is typical for Bulgaria but not for the rest of Europe.
The price of chocolate per kg in Bulgaria is 5.28
euro, the highest in the region, excluding Croatia,
where it is 8.52 euro. Kraft Foods was the leader
on the Bulgarian market with its brands Svoge
(36.6%), Milka (24.6%) and Mlechen Shokolad
(10%) according to GfK Bulgaria.
The chocolate candies segment is also marking
a growth. The average price of a kg of chocolate
candies is less than the price of a kg of chocolate.
Data from Kraft Foods Bulgaria shows that the average
spending on chocolate candies is about 80
million levs. The share of upscale chocolate candies
is expected to rise in the future.
The third segment, that of chocolate wafer bars,
is the largest one but it is highly specific for the local
market. There was a drop in this segment in
2005 despite the fact that there are more than 180
brands of wafer bars on the market. Source: Dnevnik (27.03.2006) |
| | Over 30 world famous companies have sent their top managers to the American University in Bulgaria (AUBG), based in the town of Blagoevgrad, southern Bulgaria, to recruit students. Among the leading world companies are M-Tel, KPMG, Deloitte&Touche, Kraft Foods, Danone Serdika JSC, Kempinski, Metro. The AUBG organizes such initiative for 12th time and its purpose is to improve the professional development and level of its students. Source: Standart (05.04.2006) |
| | The Bulgarian chocolate market expanded by 10% with domestic production reaching 35,000 tons in 2005, shows data of Kraft Foods Bulgaria. The main competition for the Kraft Foods flagship chocolate brands in Bulgaria - Milka and Svoge, comes from Nestle Bulgaria which controls 12% of chocolate sales. Milka sales outstripped Svoge in 2005 and now it holds 40% of the market versus 35% for Svoge, said Doroteya Aleksieva, the Milka brand manager at Kraft Foods Bulgaria. The Milka range, some of which is manufactured locally, is benefiting from a consumer shift towards mid-priced and premium chocolates. While Kraft Foods dominates the chocolate segment, Nestle leads the sales of chocolate bars and wafer snacks with a 45% market share. Source: Dnevnik (08.05.2006) |
| | Plovdiv Yuri Gagarin-BT was established in 1964. The company specialises in the production of filters, packaging and non-standard equipment for the cigarette industry, as well as in the imports and exports of spare parts and the repair of cigarette manufacturing equipment. Yuri Gagarin-BT was restructured in 1993 with the establishment of Bulgartabac Holding. The state transferred its stake in Yuri Gagarin-BT to Bulgartabac Holding in 1997. The holding currently owns 80.57% of the capital of the Plovdiv-based company. Other companies own 16.23% of the capital of Yuri Gagarin-BT, while the remaining 3.2% is held by individuals.
Filter and packaging production accounts for 94.8% of the operating income of the company. The companies within Bulgartabac Holding's structure account for 87% of the income of Yuri Gagarin-BT. Kraft Jacobs Suchard Bulgaria, Nestle and Solvex are among the other key clients of the company.
Exports accounted for a mere 7.25% of the general income of the company in 2005. Nevertheless, foreign clients from Russia, Moldova, Ukraine, Poland, Turkey, Germany and Greece are placing orders with the company for the production of packaging, filters, spare parts and non-standard equipment.
Yuri Gagarin-BT implemented a large-scale investment programme in 2005. A modern printing machine was installed, adding a competitive edge to the company in the production of packaging not only for the tobacco industry. Yuri Gagarin-BT also installed a new filter manufacturing machine and supplied its premises with gas.
The stock price of the company has been influenced over the last two years mainly by news on the privatisation of Bulgartabac Holding and information on the development of the tobacco industry. The high return provided by Yuri Gagarin-BT's stock can be put down mainly to the specific operations of the company, as well as to the fact that it can develop independently from its owner. The stock of the company has outperformed significantly the SOFIX blue-chip index of the Bulgarian Stock Exchange (BSE) over the last two years.
Despite the considerable growth achieved over the last year, judging from public information on Yuri Gagarin-BT and own forecasts on the financial performance of the company, we consider the price of the stock to be undervalued. Our forecasts are that the price of the stock will reach a level of BGN 66.05 per share over the next 12 months. Source: Pari (06.07.2006) |
| | A new company has been selected to import and distribute in Bulgaria upmarket coffee brand Illy. B.V.link, which replaces Simek as the coffee brand's local distributor, plans to build a logistics and distribution center near Sofia. The company, which is Greek-owned, has already bought a 0.8 ha lot for the center in Bozhurishte, a residential district in the west of the Bulgarian capital. The facility, which will handle only Illy shipments, should be operational by mid-2007. Some 80% of Illy's local consumption comes from on-trade sales. B.V.link will keep under control the way the beverage is made and served at the establishments offering Illy coffee. B.V.link estimates domestic coffee sales at 13,000-14,000 tons annually, ex instant coffee. Off-trade coffee sales are dominated by Nova Brasilia, a Kraft Foods brand, Jacobs, Elit, Douwe Egberts, a Sara Lee brand, Tchibo and Lavazza. Lavazza owns a 70% share of the on-trade segment, followed by Spetema and Elit. Source: Dnevnik (11.07.2006) |
| | Over 250 residents of Plovdiv, Southern Bulgaria, and Svoge, Northern Bulgaria, have been diagnosed with hepatitis A, said the Bulgarian health ministry. The World Health Organisation is expected to announce the cause of the Svoge cases on Mon or Tue after a team from the organisation visited the city last Fri. The potable water sources in Svoge have tested negative for the virus. A substantial number of the infected people in Svoge work at the local Kraft Foods Bulgaria chocolate factory. The company has not made on official statement so far. Source: Dnevnik (31.07.2006) |
| | Kraft Foods, the international food and beverage company, said it has invested BGN 1 mln in the launch of a new production line for the Milka chocolate boxes at its Svoge factory in Bulgaria. This type of Milka chocolates was previously manufactured only in France. The bulk of the output, seen at 700 tons in 2007, will be shipped to Romania, Turkey and the former Yugoslavia states. The launch of the local production will entail some modifications to the package colouring, shape and weight, said the company. In a recent interview for news agency SeeNews, Bulgarian managing director Christoph Wenisch said chocolate in Bulgaria is a market of more than BGN 300 mln consisting of three segments: tablets, pralines and personal snacks. 'The personal snacks market is somewhat larger than the other two segments and all three are growing between 5.0 per cent and 10 per cent,' Wenisch said. 'We expect to have about 40 per cent in pralines and in personal snacks around 20 per cent market share by the end of 2006. 'Kraft Foods Bulgaria will lead the personal snacks market for the first time in 2006 after gaining around four percent additional share with our Moreni wafers and Svoge Republica bars.' Wenisch said. He added the company's main international competitor in wafers was Nestle's Mura, but also domestic Borovets by Day and Night and Prestige's Troy, Spoko and Hyper. In bars, Kraft competes against U.S. Mars and Turkish Ulker. Kraft claims to lead the chocolate tablets market with its international Milka, Toblerone and luxury Suchard Sensations brands but also with its local brands Svoge and Mlechen. Milka is the clear market leader, it continues to grow with share in excess of 40 per cent, Wenisch told SeeNews. Source: Dnevnik (08.11.2006) |
| | The price of wafers in Bulgaria has risen 4 per cent year-on-year in the first half of 2006 to reflect higher sugar prices while packaging is getting slightly smaller, shows data of market research outfit GfK. Chocolates and cereals posted the fastest sales growth in Q3 on the confectionery market, gaining 23 per cent year-on-year, said GfK. They are followed by croissants with 17 per cent increase. Wafer sales fell 2 per cent in Q3 after notching up 13 per cent and 8 per cent gains in the previous two quarters. Source: Dnevnik (08.12.2006) |
| | CEZ AS has become the sole electricity supplier to four central and eastern European units of Kraft Foods Inc. (KFT), as the Czech power company banks on its regional expansion into distribution and generation, reports news agency Dow Jones. CEZ from January 1 began supplying electricity to Kraft Foods' units in the Czech Republic, Slovakia, Bulgaria and Romania, CEZ spokeswoman Eva Novakova said in a statement quoted by Dow Jones. CEZ expects to add the Polish unit of Kraft Foods to the same contract in the second quarter, Novakova said. Since 2004, CEZ has taken over several power plants and distribution grids in Bulgaria, Romania and Poland. It also opened trading offices in those countries along with others in the region. Last year, the company started pitching its one-stop-shop contract for power supplies to corporate clients with operations scattered across central and eastern Europe. CEZ remains the largest power generator in its home Czech market where it enjoys rising electricity prices. However, its other regional operations have become key revenue drivers, analysts have said. Kraft Foods, a leading international food maker, produces and sells various food items including packaged coffee and snacks, in central and eastern Europe. Source: Dnevnik (23.01.2007) |
| | Nestle Bulgaria, the local unit of Swiss food giant Nestle, said it will invest BGN 25 mln in its Sofia factory in 2007 as part of a company-wide push for the adoption of new production technologies. Nestle Bulgaria posted a 34 per cent jump in sales to BGN 180 mln in 2006 with gross profit at BGN 11.6 mln. In 2005, the company's operating profit stood at BGN 5 mln with sales at BGN 135 mln, a 30 per cent increase over 2004. Nestle Bulgaria exports rose 40 per cent to BGN 52 mln last year, continuing a run of solid yearly increments. Exports rose 56 per cent in 2004 and 38 per cent in 2005. The Sofia factory ships to Canada, UK, Finland, Germany, the Netherlands, Italy, Central and Eastern Europe, among other destinations. The company, which will try to deflect the rising cost of input materials like coffee, sugar and flour, sees a 15 per cent increase in sales and a 20 per cent profit gain in 2007. Chocolate products and beverages, including the Nescafe brand, each make up 30 per cent of local Nestle sales. The company controls 75 per cent of the local instant coffee segment, 12.7 per cent of the chocolate bar segment, 18.4 per cent of the chocolates segment, 56 per cent of the breakfast cereals segment, 48 per cent of the ice cream segment and 68 per cent of the prepared foods segment. Source: Dnevnik (20.03.2007) |
| | Kraft Foods Bulgaria has suspended a EUR 800,000 investment in a new production line in its coffee factory in the town of Kostinbrod, due to impossibility to have its excise duty on exports to the EU refunded, the company's corporate affairs manager, Ivanka Djoleva-Minioti, told the Pari daily. If the problem fails to be settled, Kraft may even move its production facilities for the European markets from Kostinbrod to another neighbouring country, where no excise duty is levied on coffee. The problem arose at the beginning of 2007, when Bulgaria joined the EU. While drafting the Excise Duty and Bonded Warehouse Act, the Customs Agency forgot to provide for a mechanism for reimbursing the excise duty paid on raw coffee. The state administration copied the European directive word by word, without taking into account the fact that the directive does not envisage such a mechanism, simply because coffee is not mandatorily taxable in the EU. When importing raw coffee in Bulgaria, importers pay duty on it. A part of the coffee is processed and sold in Bulgaria, another part is exported to Romania and Austria. The excise paid on the exported amounts was refunded until the end of 2006, Djoleva explained. But the new law does not envisage a mechanism for recovery of the tax after January 1, 2007, when exports to the EU became intracommunity supplies. We have proposed legal amendments to solve the problem. The revision will be made as part of the changes to the VAT Act, the deputy director of the Customs Agency, Georgi Grigorov, said. Source: Pari (02.07.2007) |
| | Bulgaria's finance ministry plans to revoke the excise duty on coffee from next year, the Pari daily learned. Bulgaria is one of the few EU countries levying excise on coffee. According to the EU directive, the duty is not mandatory and each country can decide by itself whether to impose it or not. Currently the duty on roast coffee stands at BGN 1 per kilogram. Raw coffee is levied BGN 1.50 per kilo. According to the industry, coffee should be exempt from excise duty, which will encourage the development of the market. Nestle, Kraft Foods and Balkam say that the duty is not justified, because coffee is not a luxury commodity, nor hazardous to consumers and the environment. As much as BGN 22 million is planned as budget revenue from the excise on coffee in 2007. Businesses, however, say that the revocation of the duty will be offset by the increase in sales and the profit tax companies pay. Source: Pari (03.07.2007) |
| | Coffee producers are urging the Bulgarian government to legislate the reimbursement of the excise on EU-bound coffee exports. The absence of this option makes their products uncompetitive and could divert future investment to countries with more favorable production and export rules, said the coffee makers. The finance ministry has taken the issue to heart and has shown readiness to initiate the necessary changes to the Excises and Tax Warehouses Act. Any change to the current excise rules will not take effect before the beginning of 2008. The on-reimbursement of coffee export excise has cost Kraft Foods Bulgaria, which owns the Nova Brasilia and Jacobs coffee brands, some EUR 0.5 mln so far in 2007 and has prompted the company to put on hold a EUR 1 mln investment in new equipment. Kraft Foods Bulgaria packages coffee for export to Romania and Austria. Bulgaria levies an excise of 0.70 levs/kg on raw coffee and 1 levs/kg on instant coffee. Source: Dnevnik (09.07.2007) |
| | Sales of hot drinks in Bulgaria continued to grow in 2006, says a country report released by global market research outfit Euromonitor International. While volume sales of tea and 'other' hot drinks suffered a mild decline in 2006, coffee supported good volume and current value growth. Coffee is the most traditional hot drink in Bulgaria. Both the on- and off-trade channels contributed to the volume development of coffee. Despite a favorable tax policy for tea and coffee, the current value increase was quite significant and in percentage terms, exceeded volume growth. The healthy value increase came as a result of consumer demand for expensive instant coffee and imported tea, the launch of high quality products such as espresso and mocha coffee blends and added value offers, said Euromonitor. The low purchasing power of the population is to the advantage of economy brands in coffee and tea. Generally, economy brands are also tailored to suit local tastes, with strong distribution and/or media exposure. In 2006, leading domestic brands included Krafts Nova Brasilia and Fort Koffiebranderijs Elite. However, both suffered a slight decline in shares, while mid- and high-priced brands such as Krafts Jacobs, Nestles Nescafe and Lavazza gained share. Expected improvements in disposable incomes, good product quality and the growing sophistication of consumers tastes should aid their further growth in the forecast period. The on-trade will retain an important role in encouraging the consumption of more expensive brands and inducing consumers to trade up. Multinational coffee companies largely dominate hot drinks. The top three coffee companies together dominate while the largest tea player ranked eight in 2006. Since 'other' hot drinks is purchased less frequently, the largest companies have much lower shares in overall sales. Multinationals in coffee benefited from strong marketing know-how, with an emphasis on brand building in different price bands. They also possess full on-trade distribution and invest heavily in consumer research, advertising and promotion, said Euromonitor. During the forecast period, Euromonitor expects coffee to see continued good growth, while tea and 'other' hot drinks are expected to perform better in comparison to the decline seen during the review period. Consumers will benefit from the entry of new players and brands, with many new entrants expected in the first years of Bulgarias accession to the EU. The largest companies in coffee, tea and 'other' hot drinks are expected to place a strong emphasis on brand building and pricing in order to remain competitive. Source: Dnevnik (22.08.2007) |
| | Billboard will raise its capital from BGN 6 million to BGN 7.5 million through the initial public offering of shares on the Bulgarian Stock Exchange (BSE) between December 5 and 7, 2007. The company is offering a total 1.5 million shares with BGN 1 par value each. The shares are offered through a book-building method. The price of the stock is expected to range between BGN 5.5 and BGN 7.5 per share. The free float of the company will stand at 20% after the stock is registered for trade on BSE. First Financial Brokerage House is the lead manager of the issue. Billboard, which specialises mainly in the wide format printing of advertising materials, booked BGN 940,000 profit for the first eight months of 2007. The net sales revenue of the company went up by BGN 3.8 million to BGN 12.8 million. Billboard's business costs are estimated at BGN 10.5 million in 2007, compared at BGN 7.2 million in 2006. Billboard's annual profit is expected to total BGN 6.8 million in 2010, which would represent a three-fold increase compared to the BGN 2.2 million forecast for 2007. Source: Pari (07.12.2007) |
| | Bella Bulgaria, Beiersdorf Bulgaria, Danone Serdica, Kamenitza, Coca-Cola Bulgaria, Globul, Kraft Foods Bulgaria, Mobiltel, Nestle Bulgaria, United Bulgarian Bank and Heineken/Zagorka are among the founders of the Bulgarian Advertisers Association (BAA) announced on Mon. The main goal of the organisation will be to improve the efficiency of ad spending and to introduce and develop standards for responsible and ethical communication with the consumers. It will also facilitate the exchange of good practices and to protect the interests of both the advertisers and the consumers, said BAA. Source: Dnevnik (19.02.2008) |
| | Kraft Foods Bulgaria JSC - Svoge has appointed Annual general meeting on 05.06.2008. Meeting agenda includes: adoption of the Annual Report for Year 2007, amendments in the statute, changes within the management bodies. Source: Registry Agency (21.04.2008) |
| | Kraft Foods Bulgaria, the local unit of the international food and beverage company, has spent EUR 800,000 to install a cooling and aroma conservation equipment at its plant in Kostenets in southern Bulgaria, the company said. The investment is aimed at stepping up the companys foreign presence from Romania to Ukraine, Serbia, Macedonia, Croatia and Slovenia. Kraft Foods Bulgaria confirmed its long-term strategic interests in Bulgaria saying it hailed the governments decision to scrap excise duties on coffee as of 2008 because it would bolster the market. Source: Dnevnik (14.10.2008) |
| | One of the largest food producers in the world Kraft Foods has decided to shut down its manufacturing operations in Romania, and to relocate part of them to Bulgaria, Mediafax reported as quoted by the Pari Daily. The Kraft Foods factory in the city of Brasov, which will be shut down in 2009, employs 440 workers. The Kraft Foods corporate manager in Romania Doina Kavake is quoted as saying that the shutting down of the company's operations in the country had nothing to do with the current global financial crisis. In her words, the company sales in Romania had increased and Kraft Foods needed to expand its production. However, the potential of the facilities in Brasov was too limited. The sacked workers will receive compensation, and the company is going to hire a special agency to assist them in finding new jobs. Source: Darik Radio (12.11.2008) |
| | Kraft Foods shuts down Romanian plant
International food and beverage company Kraft Foods will close down its chocolate factory in the Romanian city of Brasov and channel some operations to Bulgaria, Mediafax reported. The decision was prompted not by the ongoing financial crisis but by ballooning demand the factory cannot meet due to small size restricted by the downtown location, said Doina Cavache, corporate manager of Kraft Foods Romania. An agency will be hired to help the plants 440 workers find new jobs. Source: Dnevnik (13.11.2008) |
| | The company is registered in Territorial administration Big taxpayers and insurers towards 2009, 04.30 Source: Tax Administration (30.04.2009) |
| | Kraft foods invests BGN 40 million in the factory of Svoge
Kraft Foods Bulgaria announced a colossal investment of BGN 40 million in the chocolate factory in Svoge. The investment is focused on new technological lines and decisions, which will insure production of a big range of chocolate products. The aim of the investment is to expand production capacity in order to turn the factory into a production center on the Balkans, the executive director Franco del Fabbro said. The investment will insure 120 jobs in production and more than 200 positions, related indirectly with the expansion of activity. The company is one of the biggest employers in Bulgaria, as it has employed more than 800 Bulgarians. New technological lines, three in total, will be set in operation on October 2nd 2009. The decision for the investment was made in November 2008, while in July the first products of the new line are to be launched. Source: Monitor (16.09.2009) |
| | Kraft Foods Bulgaria invested BGN 40 million in its chocolate factory in Svoge for three new technological lines that will produce 100,000 chocolate bars a day. Thus the company becomes regional centre for Kraft Foods production, the executive director of the company said. Last year the company's branch in Romania was closed on account of the expansion of the Bulgarian branch. Source: Pari (16.09.2009) |
| | Bulgaria will serve as the regional confectionary and coffee hub of US chocolate giant Kraft Foods, the company said at the presentation of its retooled factory in the western town of Svoge. The expansion has devoured BGN 40 million, which has been invested in two chocolate and sweets production lines that are already up and running. A third line should be completed by the end of the year. So far, production from the Svoge facility has been sold exclusively to the domestic market but after wrapping up the investment, the company will boost exports to the Balkan nations as well as Turkey, Hungary and Ukraine. Upon completion of the expansion, the factory will be capable of popping out around 100,000 chocolate bars a day. The ribbon-cutting ceremony has been scheduled for October 2. Last year Kraft pumped BGN 1.6 million into its coffee factory in Kostinbrod, western Bulgaria, making it its regional coffee production hub. Following the upgrade, the company transferred from Germany to Bulgaria its coffee production operations servicing the Romanian market. Kraft Foods Bulgaria gives job to more than 800 people, having also hired another some 200 workers in related activities. Source: Dnevnik (16.09.2009) |
| | Kraft Foods Bulgaria envisages exporting produce totalling 100 million leva annually starting in 2010, Investor.bg reported on October 2 2009. The company officially inaugurated a brand new production line in the Svoge factory, north of Sofia, on October 2. Kraft Foods invested 40 million leva into the Svoge chocolate factory, north of Sofia, making Bulgaria a "regional production centre". This is in addition to the 1.6 million leva investment for new technology in the company's Kostinbrod factory. The Svoge factory has received the financial package earmarked for the purchasing and installation of new technological production lines, of which two are already in operation, while the third installation will be activated by the end of December 2009. The investment has been achieved exclusively through the company's own capital, Dnevnik daily reported on September 15 2009. Kraft Foods Bulgaria envisages increase of exports for Greece, Romania, Macedonia, Serbia, Turkey, Ukraine, and Hungary. With new production lines, the factory will reach a capacity of 100 000 chocolates a day. Source: investor.bg (02.10.2009) |
| | Working in Bulgaria Is Fun
In 2007, Franco Del Fabbro was appointed the CEO of Kraft Foods Bulgaria.
- Mr. Fabbro, you are the only foreigner among the finalist in the 2009 Manager of The Year contest. Is it difficult to make business in Bulgaria?
- I would say that it's more fun to work here than in other counries. I've made up my mind not to come back to any of the old EU member states. Working there is more boring and monotonous than it is here. Business in Bulgaria is developing far more dynamically notwithstanding whether the moment is good or bad.
- What do you think of the crisis development?
- As a matter of fact the crisis hit Bulgaria in 2009, a bit later than in other countries, which made it somewhat expected. I'm not sure whether we have reached the "rock bottom" or the worst is still ahead. The good news is that we were prepared for what happened and had a chance to manage our companies in the best possible way: without panicking or distracting our attention from our final goal.
- For which companies the consequences of the crisis would be more serious?
- I am not familiar with the overall business climate in Bulgaria, but many negative results can be noticed in the sector of automobile industry and construction. In my opinion, what should be done urgently is to grant credits more easily, especially to small companies. The financial condition of these companies is not very stable, they have invested large funds in better times and now are facing serious difficulties.
- When do you expect the first symptoms for coming out of the crisis?
- Nobody can tell for sure, but as a whole visible signs of improvement are expected during the second half of 2010. The important question that everybody is asking is whether the economy will be restored rapidly or will the recovery process be dragging on for years. Source: Standart (19.10.2009) |
| | Kraft Foods Bulgaria JSC - Svoge has appointed Extraordinary Meeting on 21.12.2009. Source: Registry Agency (12.11.2009) |
| | The winners in Pari daily's Success Team competition will be announced at a ceremony tonight at the Metropolitan Hotel. The jury will chose among 15 management teams: Petrolvilla Bulgaria, TechnoLogica, Prista Oil, KCM 2000, Kirov, Sopharma, SGS Bulgaria, Sodexo Bulgaria, Bramac Roofing Systems, Kraft Foods, Hewlett-Packard, Refan, Beiersdorf Bulgaria, Rosa Impex, and Avon. These are all companies that shape up not only sectors like energy, chemical industry, information technology and pharmaceuticals but also the whole economy. The spotlight this time has been on medium-level management, which is indispensable for any company. The criteria for choosing the best team include good practices for survival in crisis, new attitude to innovations, staff encouraging, diligent taxpayer and social responsibility. Source: Pari (09.12.2009) |
| | Kraft Foods has named Ivaylo Naydenov executive director of its Bulgarian unit, local media reported on Monday. Naydenov steps in as of March 1, replacing Antoine Collette, who has been appointed chief executive of the Kraft Foods unit in Turkey, news portal Regal.bg reported, quoting company sources. Naydenov joined Kraft Foods Bulgaria in 2004 as a sales director. He became the company's marketing director in 2008. Source: Dnevnik (12.02.2013) |
| | "Mondelez Bulgaria"is the new name of "Kraft Foods Bulgaria"
"Mondelez Bulgaria" is the new name of the leading manufacturer of chocolates, biscuits and coffee drinks "Kraft Foods Bulgaria". At a press conference today the CEO Mr. Ivaylo Naydenov launched a new corporate identity of the company, a manufacturer of some of the most popular brands of snacks and beverages in the world (Milka, Svoge, Suchard, Toblerone, Oreo, Moreni, BelVita, Tuc, Barni, Jacobs , New Brazil). The change of name of the company is part of the international restructuring "Kraft Foods" and the division of the business into two separate companies - "Mondelez International" engaged in the production and marketing of chocolates, biscuits, snacks and beverages worldwide, "Kraft Foods Group" is focused on the business of food products in North America. "Mondelez International" is the largest producer in the world of chocolates, cookies and snacks, and the second largest producer of coffee and chewing gums. The process of introducing a new identity and reorganization of the company started on 1 October 2012, the change takes place gradually in 165 countries with offices in "Mondelez International". The Bulgarian branch is part of the structure of "Mondelez"Central Europe, along with 17 other countries in the region. In Bulgaria the company has two manufacturing plants in Svoge and in Kostinbrod. Its activities will continue to be guided by Mr. Ivaylo Naydenov, who took over as CEO of "Kraft Foods Bulgaria" in March 2013. Source: Capital (30.05.2013) |
| | Svetla Lesova will take over as general manager of Mondelez Bulgaria, the Bulgarian unit of snack company Mondelez International, as of February 1, the Bulgarian company said on Thursday. Lesova currently heads Mondelez International's sales department for Eastern Europe, the Middle East and Africa, which includes 90 countries, Mondelez Bulgaria said in a press release made available to SeeNews on Thursday. Previously , Lesova has worked for Gillette and Procter & Gamble. She will replace Ivaylo Naydenov, who will assume a regional managerial position. He will be based in Bucharest. Mondelez Bulgaria operates production plants in Svoge and in Kostinbrod, both near the capital Sofia. Some of its most popular brands are Moreni biscuits, and the Svoge, Milka and Mlechen chocolate tablets. Mondelez International, previously known as Kraft Foods, entered the country in 1993 when it bought the Republica confectionery factory in Svoge from the Bulgarian government. The global company operates in 165 countries. Source: money.bg (14.11.2014) |
| | Mondel?z buys Chipita in a USD 2 billion deal
Mondel?z International will buy the Greek manufacturer of croissants and bake rolls Chipita S.A. ("Chipita") for about USD 2 billion, it became clear from an official announcement of the American corporation to the media. Mondelez will finance the acquisition with a combination of new debt and cash. The transaction must be authorized by the antitrust regulators. In Bulgaria, the deal will give birth to a giant in confectionery. The merged company will be 1 in terms of revenues with a total turnover of about BGN 350 million and will thus displace Nestl? Bulgaria (with revenues of just under BGN 270 million). Both the American and the Greek companies are absolute leaders in several categories that do not match. For example, Mondel?z is the hegemon for chocolates, and Chipita for croissants and bake rolls. The transaction does not involve the meat processing company P.G. Nikas, acquired by Chipita in 2017, as well as the minority share of the Greek company in a joint venture in India. The business of Mondel?z International in Bulgaria is managed through five companies: Mondelize Bulgaria, Mondelize Bulgaria Production, Mondelize Bulgaria Holding, Mondelize Europe Procurement GmbH-Branch Bulgaria, Mondelize Europe Services GmbH-Branch Bulgaria. Distributors of the products in Bulgaria are: Rozhen, Clio and Yasko. Mondelize Bulgaria's revenues for 2019 are BGN 178 million. Source: Capital (28.05.2021) |
| | Over $55 million in modernization investments over the past 10 years, a portfolio of over 170 products and more than 400 dedicated professionals. This is the balance sheet to date for the first chocolate factory in Bulgaria, which celebrated its centenary. The chocolate factory in Svoge is of strategic importance for Mondelez International. The portfolio of the factory offers more than 40 flavors, with about 30% of the manufactured products distributed in the local market, which guarantees the company's leadership position, and the remaining about 70% are exported to almost the whole world," emphasized Hossam Ashour, president of Central and Eastern Europe, who expressed pride in the development of the factory and noted its contribution to the group.In addition to being an active participant in the market, the plant is also actively involved in local community projects and works to reduce its environmental footprint, managing to recycle around 99 % of waste. Source: money.bg (18.07.2024) |