Knauf Bulgaria EOOD (Bulgaria)

Construction materials producer KNAUF GmbH-Austria, which is fully-owned by Germany's KNAUF group, set foot in Bulgaria in October 1993. Knauf EOOD was initially active in distribution and professional training. In January 1997, Bulgaria's Privatisation Agency sold 60% of local plaster and thermal isolation construction materials maker Gipsfazer to KNAUF GmbH - Austria for USD 5.7 million. The buyer also pledged to invest USD 5.405 million in Gipsfazer in the next five years. Gipsfazer produces gypsum thermal isolation panels for walls and floors and suspension ceilings for house construction. Of the remaining 40% equity, 25% were offered for voucher privatisation under Bulgaria's mass sell-off programme and the remaining 15% were offered to Gipsfazer employees at preferential prices.
The Vidin-based plant, which was renamed into Knauf Gipsfazer, has an annual capacity of some 8.0 million square metres of articles. In February 2005, the Knauf Gipsfazer company was merged within the structure of Knauf EOOD. In June 2010 the company opened the new plant in Mednikarovo village, near Stara Zagora. The investment is at the amount of EUR 62.0 million. 30% of its production will be exported in Romania.