One of the leading manufacturers of lighting equipment in the world is leaving Bulgaria – three years after the start of its production
Only three years after the opening of the first enterprise in Bulgaria, Osram is leaving the country, the company officially announced without giving details of the deal. The German company sells its factory for ballasts and drivers in Plovdiv. The buyer is the American Sanmina Corp, one of the largest manufacturers of electronic products, based in San Jose.
Sanmina is taking over the management of the factory along with about 800 employees, inventory and equipment. Osram commented for economic.bg that the current contracts of the employees will be taken over by the new employer and will remain unchanged.
Initially, the factory will still be occupied by Osram’s orders. In the course of time, Sanmina will begin production there for other clients too. Sanmina intends to expand its production capacity through the purchase of the factory.
Osram also mentioned that the sale had nothing to do with the COVID-19 crisis, but that it has revised its operating model due to changes in the lighting market. The company adds that the sale is not related to Bulgaria as a location and that it “appreciates businesses environment in Bulgaria and the local labor force”.
Both companies have reached an agreement to not share the exact financial parameters of the deal.
Osram opened its first factory in Bulgaria in 2017, located in one of Plovdiv’s industrial zones, with a BGN 50 million investment.