site.btaEtem Gestamp Plans to Invest EUR 60 Mln in Broadening Bulgarian Operation

Automotive supplier and aluminum extrusion leader Etem Gestamp is planning to invest 60 million euro to expand its Bulgarian operation. This transpired here Monday as Bulgarian Innovation Minister Daniel Lorer visited the Etem plant for automotive components in Sofia to hear their investment plans.

"It is important that such investments happen in Bulgaria: they show that the strategy of the Innovation and Growth Ministry to attract investors to this country, works," said Lorer as he met with Emmanouil Fountoukis, General Manager of Etem Gestamp.

“This investment in production of electrical vehicle components coincides with both the European green transition and carbon neutrality strategy, and Bulgaria’s strategy to offer good conditions for production of electric vehicle components,” Lorer added. It will open over 130 jobs for qualified specialists in the next two years, as serial production is seen to begin in 2023.

Etem Gestamp is one of the few in Europe to produce aluminum profiles meeting the highest standards of the automotive industry. The company’s strategy is focused on leading trends as electric vehicles, lighter vehicles and zero emissions in support of the global sustainability and carbon neutrality goal, it said.