Financing Agreement with the European Investment Bank

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Corporate | 12.01.2018

On 12th January, at the start of the Bulgarian Presidency of the Council of EU, Huvepharma signed a financing agreement for EUR 100 million with the European Investment Bank.

The agreement was signed by Huvepharma President Mr. Domuschiev, Commision Vice-President Jyrki Katainen, Bulgaria's Minister of Agriculture Mr. Rumen Porodzanov, EIB Vice-President Mr. Andrew McDowell in the presence of EU Commission President Mr. Jean-Claude Juncker, Bulgaria's Prime Minister and Deputy Prime Minister, Minister of Finance and Bulgaria's EU Presidency Minister.

The financing will support the extension of the company's manufacturing capacity, a strategic step for the future of Huvepharma growth projects and for strengthening the company's leading position in the global animal health sector:

  • Extension of the fermentation facilities. This project will be performed in Peshtera. As a result, the company will increase its capacity by 50%. The design of the plant will allow to have flexible production and to be able to produce both products from the company's current portfolio and new ones.
  • The second major project is a vaccine plant which will be constructed in Razgrad. Huvepharma will operate its own state-of-the-art vaccine production, applicable for the main animal species: poultry, swine and calves and will be able to cover all the technological processes.
  • Building of a new, modern logistic center in Peshtera which will allow Huvepharma to optimize and improve the management of the finished products and the labour force.
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