Product category:
Printing Substrates - Paper, Forms and Stationery
News Release from: Map Merchant Group
Edited by the Printingtalk Editorial
Team on 10 October 2005
Map Buys Bulgaria's Third Largest Paper
Merchant
Map Merchant Group has acquired a majority share holding in Concord, the third largest paper merchant in Bulgaria.
Map Merchant Group has acquired a majority share holding in Concord, the third largest paper merchant in Bulgaria Map will take over responsibility for the operational business of Concord, although the deal is awaiting final approval by the Bulgarian monopolies commission
This article was originally published on Printingtalk on 19 May 2005 at 8.00am (UK)
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Concord has a 15 per cent share of the Bulgarian market and currently sells 8,000 tonnes of paper a year, with a turnover of seven million Euros.
The company was founded in 2000 by the Cappelen Group of Austria.
Karl-Johan Lindborg, the president and chief executive officer of Map Merchant Group, commented: "We expect that the joint venture will have a positive effect for both Map and Concord.
It is a declaration that we continue to invest and develop in our growth regions of Eastern Europe." Map Merchant Group already central eastern European merchants in the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Russia, Slovakia, Slovenia, and Ukraine.
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