Bulgaria's wrapping paper and corrugated cardboard producer Velpa-91, which was established in 1974, is based in the northern town of Strazhitsa. The plant, which had operated within a state cellulose and paper conglomerate, was transformed into a joint-stock company in 1991.
The state sold a 67% in the paper manufacturer during the first wave of the country's voucher mass privatisation programme in 1995-1996. Several large privatization funds acquired control of the company. In May 1998, Bulgaria's Privatisation Agency sold a 26.4% stake in Velpa-91 to the Frankfurt-based Norekom GmbH for USD 1.121 million. A few months after the deal, the German company increased its stake in Velpa-91 to some 80% through a capital hike.
Headquarters
36 Gladston Str.
Strazhitsa; Veliko Tarnovo;
Postal Code: 5150
Contact Details: Purchase the Velpa 91 AD report to view the information.
Website: http://www.velpa91.com/
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