Italcementi Group entered the Bulgarian market in 1998 with the acquisition of Devnya Cement – a plant with production facilities and an annual capacity of approximately 2 million tons, located near Varna – the largest port in the country. In 1999, Italcementi Group acquired Vulkan Cement – a plant with production capacity of about 500 thousand tons, located near Dimitrovgrad.

Presently, Italcementi Group is the largest cement producer and exporter in Bulgaria, with the leading market share in the country and an annual production capacity of 2.5 million tons. In addition, the Group provides over 500 direct working positions, as well as 1500 indirect positions, including subcontractors, working on the company’s property.

Identifying Bulgaria as one of its key markets for future growth and investment, Italcementi Group intends to increase and strengthen its presence in the country. To date, the Company has invested more than 400 million BGN in Bulgaria and ranks among the biggest foreign investors in the country. This includes both the original acquisition of the existing production capacities as well as the significant investments made in modernizing facilities, improving quality standards and reducing the environmental impact of the operations.

Having studied alternative investment opportunities in Bulgaria, the Company has established a new investment program in order to improve its existing production systems. This will allow the Company to further strengthen its leading market position, while improving its cost competitiveness and reducing its environmental impact on local communities.

Italcementi Group’s new project, valued at over 500 Million BGN, will aim to reconstruct the installations at Devnya Cement, namely by changing the production method – by converting it from a wet to a dry cement and clinker production process.  The capacity of this new plant is expected to exceed 3 million tons and is anticipated to start up in 2012.

Through this project, Italcementi Group will introduce the best available techniques of cement production in Devnya, improving the industrial and the safety standards in the plant. This project initiative will confirm the company’s commitment to Sustainable Development, care for the environment and social responsibility.