BHTC is a key investor in the Industrial Zone Sofia-Bozhurishte.
aThe first stage of our investment was implemented successfully and we have reached the stage of production,a said BHTC Managing Director Andreas Teuner.
Teuner told Lukarski that other investors had asked BHTC about the opportunities offered by the Industrial Zone Sofia-Bozhurishte with a view to developing a production facility in Bulgaria.
The Beijing High-Tech Company (BHTC) is a medium-sized, state-owned enterprise with 1900 employees.
After the first four years of application of the contract, BHTC is very reluctant to sign a new contract with the bureaus, partly because the company considers that it still does not have enough autonomy to run its business and partly because the market is deteriorating.
Mr Zhang, who is in charge of the financial decisions for BHTC, led the delegation.
For some companies, especially large companies, the director has to be the authority signing the contract with the bureaus, as is the case with BHTC. For other companies, there may be several people who join in the negotiations, and eventually an ad hoc committee selects someone as director and contractor.
Such a decision put BHTC and other Chinese producers into an extremely difficult position.
The market for product X manufactured by BHTC was shrinking and the capacity needed to develop new products required a huge investment which is largely dependent on government support.
BHTC is to invest BGN 42.5 M in a new enterprise and research and development center for manufacturing automotive climate controls in the Sofia-Bozhurishte Economic Zone, with construction works scheduled to start in the second quarter of 2013.
BHTC's project is the first large-scale investment in the Bozhurishte economic zone.