Bulgarian yarns producer Velbazhd, which was established in 1969, is based in the south-western town of Kuystendil. Its product range features yarns for machine and hand knitting.
The company launched operations with installed capacity of 20,000 spindles and expanded the capacity to 35,000 spindles in 1972.
In 1982, the company opened a plant for hand knitting yarns.
A 57% stake of Velbazhd was offered for sale against vouchers under the government's mass privatisation programme in 1996-97. Another 4.4% was kept for covering property claims by former pre-communist owners and 8.6% were offered to employees at preferential prices.
In September 1996, Bulgaria's Privatisation Agency sold 30% of the yarn maker to local company Velbazhd Stil for USD 913,100.
Around 70% of the company output is bound for export to Central, Eastern and Western Europe and the Balkans.
Headquarters
Buzludzha 97
Kyustendil; Kyustendil;
Postal Code: 2500
Contact Details: Purchase the Velbazhd AD report to view the information.
Website: http://www.velbujd.com
EMIS company profiles are part of a larger information service which combines company, industry and country data and analysis for over 145 emerging markets.
Request a demo of the EMIS serviceTo view more information, Request a demonstration of the EMIS service