Cima 99 LTD - Rakovski - Short Company profile

The jam business extends with an investment of BGN 7 million The producer of jams Cima-99 will invest BGN 7 million in a new logistics center and in additional equipment for its factory in Stryama village, Rakovski municipality. The project is expected to finish next year and increase production capacity. Last year, the company increased its sales by more than a third, and for its growth it mainly relies on exports. Besides Bulgaria, its products are already sold in 38 countries. The warehouse will be built on a plot of 22 decares. Construction starts in early September and will last for six months. The building will have a total area of 6500 sq. m. and the construction contractor is Castello Precast. The company specializes in the construction of industrial and warehouse buildings and currently operates similar sites in 11 industrial areas in the country. The project will be financed by a combination of own funds and a bank credit. Currently, Cima -99 employs about 60 people and 10 more will be hired after the end of the project. The target of Cima -99 is to increase exports, which currently accounts for 60% of its revenue. Its main markets are Israel, Japan and the United States, but its products also reach countries like Australia, South Africa and China. In 2017, the sales revenue of the company increased by 34% to BGN 10.7 million and the net profit increased by 68% to BGN 1.4 million.