About € 4 Million Is Invested by Opticoelectron in 2017

PANAGYURISHTE, Bulgaria (BulgarianMilitary.com), June 29, 2018, Author: Boyko Nikolov, Picture: Hristo Elkin

Interesting indices and positive attitudes in the investment policy showed the general annual report of the companies in the structure of Opticoelectron Group JSCo during the last year. About € 4 million has been invested during the 12 months of the past 2017 in technological equipment, real estate and training of the personnel, learned BulgarianMilitary.com

“We invested about € 2 million in the purchase of new machines and facilities, as well as for building of a separate manufacturing unit for infrared equipment – workshop “Crystals”. About € 1.9 million was invested in real estate and about € 180,000 – in training of the personnel mainly on foreign language education and improvement of the professional qualification of our colleagues,” commented Eng. Ivan Garchev, CEO of the Company.

About € 4 Million Is Invested by Opticoelectron in 2017
Manufacturing unit for infrared equipment – workshop “Crystals”, (Picture: Boyko Nikolov)

The annual report also clarified that, in 2017, funds have also been invested in building of a new production area for assembly and integration of mobile, stationary, and semi-stationary systems and posts for surveillance and security. The total recapitulation shows that, from that unit in the manufacturing cycle of the Company, it has been integrated 28 systems for the needs of both the Bulgarian Border Police and customers from Scandinavia.

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An analysis of BulgarianMilitary.com shows that during the last three years Opticoelectron and the companies within its structure do not spare funds for investments. On average, it is invested between € 1.5 million and € 2 million per year. Already in 2015 it was decided a new investment period to be started in the history of Opticoelectron. This happened through the purchase of a new vacuum system for placing of thin optical layers at the amount of several million euros. Thus the results were not late and already during the same year Opticoelectron took the prestigious 9th place in the Gepard ranking for Bulgaria’s most dynamically developing companies.

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dip.eng. Ivan Garchev – CEO of opticoelectron Group JSCo, Bugaria / Photo credit; linkedIn
“From 2015 till now we have reported growth in the sales of our products worldwide. Every day we prove to ourselves that our choice to invest in personnel and new contemporary production powers is the right strategy. That is why we are proud of one more fact – big part of the invested funds are reinvested profit during the recent years and in past one as well,“ concluded Eng. Garchev.

Recently BulgarianMilitary.com also informed that in the last three years Opticoelectron has doubled its sales. Wisely spent funds on new installation for placing of coatings on aluminium parts, new installation for special coatings of the optical components or the new CNC machines of latest generation are an important part of the success of the Company.

Read more: Opticoelectron Group Has Doubled Its Production in Three Years

About € 4 Million Is Invested by Opticoelectron in 2017
dipl. eng. Boyan Garchev – Business Development Director (Photo credit: Persoanl archive)
“We pave the way for our success by ourselves. We prove it every year with new customers, new orders and strengthening of the existing partnerships. 2018 is half-way through, but this and next year we are working on our investment program. New interesting product solutions in the field of thermal vision and swir technology, as well as in the field of mobile, semi-stationary and stationary systems and posts for surveillance and security are upcoming. Exactly in the development of the last product range we have already begun to implement our new investment goal that we hope to lead to the desired results in the next years,“ commented Eng. Boyan Garchev, Business Development Director of Opticoelectron.

We recall for you that in 2017 Opticoelectron was awarded “Innovative Company of 2017” by the Patent Office of the Republic of Bulgaria.

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