Khraninvest - Khranmashkomplekt AD (Bulgaria)

Hraninvest-Hranmashcomplect AD, which was established in 1968, is engaged in the design, manufacture and sale of commercial and industrial foodservice equipment.
The company, based in the southern city of Stara Zagora, is a manufacturer of bottling equipment, equipment for wine processing, machinery for processing of fruits and vegetables as well as milk processing machines.
It also provides stainless steel tanks, pumps, spare parts and conveyor systems for the food industry.
Hraninvest-Hranmashcomplect operates three production plants – in Stara Zagora, in the southern town of Momchilgrad and central town of Kilifarevo.
In November 2000, Bulgaria's Privatisation Agency sold 63.4% of the machine producer to local consortium Zagora-Hranmashcomplect for USD 3.15 million.
The new owner vowed to cover the firm's outstanding debts of USD 32.6 million – mostly accrued under the law for bad loans settlement (ZUNK).
The tie-up, where local Holding Zagora held 80% and management-employee buyout Hranmashcomplect - HMC controlled 20%, also pledged to invest USD 1.59 million in the company in the next three years.
In 2003, the state sold another 25.8% stake in the machine maker on the local stock exchange.
Holding Zagora acquired full control of the enterprise at the end of 2003.