Fibran Bulgaria AD (Bulgaria)

Greek thermal insulation materials producer Fibran set foot on the Bulgarian market in 1997 by setting a joint-venture with local construction company.
Fibran owns 67% of Fibran Bulgaria, with Bulgarian construction company Balkanstroy holding the rest.
In December 2004, the company opened a EUR 6.0 million plant in Bulgaria's Danube port of Russe, which has an annual capacity of 150,000 cubic metre of extruded polystyrene (XPS).
Fibran Bulgaria produced some 75,000 cubic metres of extruded polystyrene under the Fibran Eco brand in 2005 and plans to double the output in 2006.
About 70% of the company revenue in 2005 came from sales of the Fibran Eco brand.
The company also sells expanded polystyrene, stone and glass wool and other construction materials, which it imports from Fibran's subsidiaries in Macedonia and Greece.
Fibran Bulgaria, which sells about a fourth of its production abroad, plans to raise its revenue by up to 30% in 2006 and by some 20% annually over the next four years on the back of rising exports.
The company, which sells about a fourth of its production abroad, exports mainly to Romania, Moldova, Serbia and Montenegro, and Macedonia.