Schneider Electric invests BGN 16m in new product in Bulgaria

Schneider Electric, the world’s leader in energy management, picked up Bulgaria for launching its latest product. The company has already started the production of a new automatic circuit breaker in the Plovdiv-based plant. The investment in the four fully automated lines amounts to BGN 16 million. The total investment in the factory since it was opened in 2006 has reached BGN 37 million. The new product will be used in construction, building installation systems and industry. The worst days for the plant are over. At the end of 2008, production slumped 70% and layoffs reached 25%. The production of the new type of breakers in May 2009 created 120 new jobs. Currently there are 430 employees. Only 10% of the output is for the domestic market, the remaining 90% is exported.