Bulgaria’s Prista Oil invests in Hungarian plant

Bulgarian motor oils and industrial lubricants producer Prista Oil said that it has invested a total of €1.7 million (US$2.19 million) in expansion and upgrades at its Hungarian plant, Bogdany Petrol.
The investment was supported by EU funds and the Hungarian government, which provided a €500,000 (US$645,395) state subsidy for the project, the Bulgarian company said in a press release.
Bogdany Petrol’s core business is production of wax and lubricants used in the pharmaceutical, cosmetics and cable making industries. The investment in integrated high-technology equipment will allow the plant to improve control over energy consumption, production efficiency and the quality of the final product, the press release said.
Bogdany Petrol exports 96% of its final output to countries in the EU and Africa.
Prista Oil Group (www.prista-oil.com), based in the Bulgarian Danube port city of Ruse, is a holding company whose main line of business is production of car batteries and lubricants. Its blue-chip unit Monbat is in charge of car battery manufacturing operations.
(April 24, 2013)