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Finnish Investment to Make Bulgaria World's Top Ski Producer

1 min read Tourism Source: Novinite

From our news archive: this article was published in March 2011. Figures and rules may have changed since.

Bulgaria will be making between 15% and 20% of the total annual production of ski in the world thanks to the investment in a local factory by Finnish company Amer Sports.

On Monday, world ski producer, Finnish company Amer Sports, received a "Class A" investor status from the Bulgarian government for its project to expand the ski factory in Bulgarian mountain resort Chepelare.

Bulgarian Economy Minister Traicho Traikov presented Stefan Leberbauer, a senior executive of Amer Sports, with the Class A investor certificate at a special ceremony.

Leberbauer has pointed out that thanks to the Finnish investment Bulgaria is to become the largest ski producer in the world.

In his words, by the end of 2011, Amer Sports will have invested BGN 40 M in the ski plant in Chepelare, which already employs 640 people.

Amer Sports plans to invest BGN 7.8 M in the expansion of the "Pamporovo Ski" factory, which it bought in 2008 for EUR 5 M (BGN 10 M).

The Finnish company Amer Sports a market share of about 30% on the global ski market.

In 2009, the factory in Chepelare produced over 500 000 items, and its ski are delivered directly to the stores of Atomic and Solomon around the world.

"It is great to be number one in some kind of industry, especially when it comes to ski equipment because this is the kind of sport practiced by wealthy and intelligent people," Economy Minister Traikov commented upon presenting the Class A investor certificate to Amer Sports Bulgaria.

Originally published by Novinite.