Zaharni Zavodi, one of Bulgaria's largest sugar producers, was established in 1912. The company is primarily engaged in the production of sugar, sugar products and ethyl alcohol. The production facilities of the firm are located in the town of Gorna Oryahovitsa. Zaharni Zavodi also operates a thermoelectric power plant through its subsidiary TPP Gorna Oryahovitsa. The group also manufactures packaging products and operates a repair and mechanical plant.
In October 2000, Bulgaria's Privatisation Agency sold 59.99% of the sugar maker to a management buyout team for USD 4.38 million. The buyer - Zahar Invest - also pledged to settle some USD 10.8 million of the company's debts and to invest at least USD 5.52 million in the next three years. A 25% stake in Zaharni Zavodi was previously sold through the country's voucher mass privatisation programme and another 15% were earmarked to meet property claims by former pre-communist owners.
29 Sveti Knyaz Boris Parvi Str.
Gorna Oryahovitsa; Veliko Tarnovo; Postal Code: 5100
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