Sienit Holding JSC - Plovdiv - Short Company profile

Schneider Electric is building a second plant near Plovdiv Nearly 17 years after building its first circuit breaker factory in Bulgaria near the Plovdiv village of Radinovo and a year after its last expansion, France's Schneider Electric has begun construction of a second plant in the "Thrace Industrial Zone". The investment in the first stage of the project, which will be completed next year, is BGN 107 million. The new plant will be located on an area of 8,300 square meters, and construction is expected to be completed in the first quarter of 2025. The designer of the building is IPS Bulgaria, and the construction is carried out by Glavbolgarstroy. "Schneider Electric" bought a little over 108 decares for BGN 8.5 million from "Business Center 2", a company of "Syenit Holding" and Petar Kurtev. After at the end of 2019, the first plant in Plovdiv was certified as a smart factory according to Schneider Electric's internal group standards, the goal now is for the new facility to cover the next level and be an advanced smart factory, as well as to receive gold LEED certificate for the building itself. The construction of a geothermal system for heating and cooling is also planned. The new plant will produce circuit breakers and other low voltage electrical products. In practice, "Schneider Electric" will also become the first company to which the new rules will be applied, after the Council of Ministers approved the granting of direct state aid for the priority project in December. For the Plovdiv region, the maximum support is 50% of the eligible costs, with the funds being allocated in stages upon achievement of certain project goals. Separately, the cabinet voted BGN 4.6 million in funding for the municipality of Maritsa for the construction of infrastructure to the future plant. The local plant traditionally works with many subcontractors, thereby providing about 500 indirect jobs to the 780 people employed at Schneider Electric itself. Close to the future second plant of "Schneider Electric", an enterprise is currently building one of the suppliers of complete switchgear (Switchgear) for the company. Production at the new factory is expected to begin in the third quarter of 2025, and 110 people will be employed. The big plan for the entire plot is to be occupied in the next 10 years, with the maximum building area being around 50-60 thousand square meters. For 2023, the Schneider Electric group reports 13% organic growth and 36 billion euros in revenue. The latest published data for the Bulgarian company are for 2022 and show a 19% increase in sales to BGN 303 million.