Today, 07.07.2021, Mr. Stamen Yanev – Executive Director of IBA, presented a certificate “Class A” to the new investor
The new company PPS Manufacturing will start production of the highest class nitrile medical gloves in Plovdiv. The investment of BGN 15 million is made with the support of EU financial instruments managed in our country and is initiated by Bulgarian entrepreneurs in unison with the processes of reorganization and transformation of the local economy in recent years. Owing to this initiative more than 100 new jobs will be created. In addition to the aforementioned economic and social benefits, the project will also have a positive impact on the healthcare and food sectors.
Nitrile gloves are crucial to every country in the European Union, especially in the context of the ongoing COVID-19 crisis. The project for the new production line is of strategic importance for both Bulgaria and the EU, due to the significant worldwide shortage of this type of consumables. This will be the first production of protective nitrile gloves on the territory of the European Union, and the possibility of launching it in Bulgaria serves as a great prerequisite for gaining international competitive advantage on behalf of the entire European community.
“With this investment, we aim to reduce EU’s dependence on Asian manufacturers and make Bulgaria a preferred manufacturer of personal protective equipment,” said Georgi Petkov, Chairman of PPS Manufacturing’s board of directors.
The project is another sign of the intensive development of the new Bulgarian industry – Plovdiv in particular, and its competitiveness on the world market. The new company is one of hundreds of successful investments in industry in the city of Plovdiv and the region over the past 20 years.