Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The South Korean Holding Sammi Sound Tech.Co.Ltd is starting to build in October a spaghetti factory near the village of Avren, Varna region. Some € 30 million will be invested in this project. The factory will be built up on 4.6 hectares and is going to be completed at the end of autumn in 2007. The intention of the investors was to build one production line, but then it was decided to have two. This will increase the production capacity of the factory to 5 million packing per month from the traditional Korean spaghetti. Some of the materials for that production will be imported from Korea in the beginning till they start to be produced in Bulgaria. Noodles, maccaroni and some other kinds of typical Korean taste will be produced there as well. A big share of the production will go to the EU market. The factory will give work to 300 local people. As preparation for that, 50 pupils from the local school have started last year to receive training to work the food industry.
The South Korean Holding Sammi Sound Tech.Co.Ltd is established in 1961 and is a world leader in loud speakers production. Its production goes to Casio, Hitachi, Samsung, Nec Technology, JVC, Sharp etc.
Eurofound (2006), Sammi Sound Technology Corporation, Business expansion in Bulgaria, factsheet number 64079, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64079.