# Etem Bulgaria and Gestamp receive approval for €30M joint venture investment in Bulgaria

Etem Bulgaria and Gestamp North Europe Services have received regulatory approval to create two new joint ventures in Bulgaria, with a €30 million investment program over three years for a new extrusion press and equipment for aluminum profile processing.

- Type: Investment
- Announced: 2019-05-03
- Where: Bulgaria, Bulgaria
- Value: $33.6M (30.0M EUR)
- Status: announced
- Products: extruded aluminum profiles
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Etem Bulgaria](https://endata.com/companies/36664.md)
- [Viohalco](https://endata.com/companies/36663.md) (investor)
- [Gestamp North Europe Services](https://endata.com/companies/39283.md) (partner)

## Sources

- [novinite.com](https://www.novinite.com/articles/196863/%E2%82%AC+30+Million+Investment+in+the+Automotive+Industry+in+Bulgaria+has+Received+Regulatory+Approval), 2019-05-03: "The investment program over the next three years envisages the realization of approximately € 30 million for the installation of a new extrusion press and equipment for additional processing of aluminum profiles in Bulgaria."

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