Financing agreement with the European Investment Bank
On 12th January, at the start of the Bulgarian Presidency of the Council of EU, Huvepharma® signed a financing agreement for EUR 100 million with the European Investment Bank.
The agreement was signed by Huvepharma President Mr. Domuschiev, Commission Vice-President Jyrki Katainen, Bulgaria’s Minister of Agriculture Mr. Rumen Porodzanov, EIB Vice-President Mr. Andrew McDowell in the presence of EU Commission President Mr. Jean-Claude Juncker, Bulgaria’s Prime Minister and Deputy Prime Minister, Minister of Finance and Bulgaria’s EU Presidency Minister.
The financing will support the extension of company’s manufacturing capacity, a strategic step for the future Huvepharma growth projects and for strentheneing company's leading position in the global animal health sector:
- Extension of the fermentation facilities. This project will be performed in Peshtera. As a result the company will increase its capacity by 50%. The design of the plant will allow to have flexible production and to be able to produce both the products from company’s current portfolio and new ones.
- The second major project is a vaccine plant which will be constructed in Razgrad. Huvepharma will operate its own state of the art vaccine production, applicable for the main animal species: poultry, swine and calves and will be able to cover all the technological processes.
- Building of a new modern logistic center in Peshtera which will allow Huvepharma to optimize and improve the management of the finished products and the labour force.