Sisecam retail chain for Bulgaria

Sisecam said on 11 May 2006 it would set up a retail chain in Bulgaria under its Pasabahce brand. “The first store will be opened tomorrow in the City Centre Sofia shopping mall”, Sisecam said in a st…

Sisecam said on 11 May 2006 it would set up a retail chain in Bulgaria under its Pasabahce brand. “The first store will be opened tomorrow in the City Centre Sofia shopping mall”, Sisecam said in a statement. The store will sell glassware made at Sisecam“s plant in the north-east Bulgarian town of Targovishte, as well as other items produced by the holding company. The second Pasabahce glassware store will open in the Black Sea city of Varna Sisecam officials were not immediately available for comment. Sisecam opened the glassware plant at Targovishte, the first of three planned for Bulgaria, in 2005. The second factory, which cost some USD 120 million (EUR 93.9 million), became operational in February 2006. Sisecam will have invested a total of USD 220 million in the country following the launch of the third production unit planned for 2006, according to data from government agency InvestBulgaria. Sisecam holds between 30% and 35% of the flat glass market in Bulgaria and 40% of the glassware market. The company claims to be the third-largest glassware maker in the world and hopes its Bulgarian unit will help it reach the No. 2 position.