# Etem Bulgaria to invest €30M in new aluminum extrusion equipment

Etem Bulgaria plans to invest approximately €30 million over three years for a new extrusion press line and related machinery in Bulgaria, as part of a joint venture agreement with Gestamp.

- Type: Investment
- Announced: 2019-01-07
- Where: Bulgaria, Bulgaria
- Value: $34.0M (30.0M EUR)
- Status: announced
- Products: aluminum extrusions, aluminum profiles
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Etem Bulgaria](https://endata.com/companies/36664.md)
- [Gestamp](https://endata.com/companies/16876.md) (partner)
- [Viohalco](https://endata.com/companies/36663.md) (investor)

## Sources

- [lightmetalage.com](https://www.lightmetalage.com/news/industry-news/extrusion/etem-bulgaria-to-invest-in-new-aluminum-extrusion-equipment-for-automotive/), 2019-01-18: "The company plans to invest approximately €30 million over the next three years for the installation of a new extrusion press line and related machinery for further processing of aluminium profiles in Bulgaria."
- [novinite.com](https://www.novinite.com/articles/195121/Etem+Bulgaria+Decided+to+Spin-off+its+Production+of+Extruded+Aluminium+Profiles+Business), 2019-02-12: "The Agreement will further strengthen Etem Bulgaria’s position in the automotive sector and help to ensure it can successfully meet the increased demand for aluminium products."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.