Technoexportstroy AD is first entity slated for a meeting with investors this year. Anyone who wants to own the construction company must prepare at least BGN68 million, which is the starting price of the tender as announced by the Privatization Agency for the sale of 103,970 registered shares, representing 100% of the enterprise’s capital. One of the former ministers of regional development, Assen Gagauzov, once said that the shares of the most attractive companies – among which are Technoexportstroy and Avtomagistrali, would first be placed on the stock exchange to test investors’ appetite for this kind of companies. Later, it was he who said that nobody will rush with the sale of both companies.
It was the Government of GERB that in mid 2011 removed the state company from the prohibitive list but failed sell the company the same year. It is difficult to predict its fate in 2012, but for years the company has been in decline posting increasingly deteriorating financial results. An inspection of the Public Financial Inspection from last year found that Technoexportstroy was managed ineffectively in 2009 and 2010. According to inspectors the company has accumulated losses of BGN8.424 million for this period and have seen a worrying trend of worsening financial condition as a result of inefficient investment strategy.
Experts from the construction industry do not expect to see much interest in this sale. According to some the price is too high in a period of crisis in the industry and the significant decline in all its segments.
Construction company Technoexportstroy was founded in 1964 and is registered as an international entrepreneur and consultant in over twenty countries in Europe, the Middle East and Africa. Abroad, the company has built more than 660 sites in all sectors of economic infrastructure. It has built and equipped more than 40 enterprises in energy, construction, chemical and clothing manufacturing industry.
In the field of housing construction Technoexportstroy has built several thousand residential and private buildings, including blocks and houses in residential areas of cities in Germany, and residential buildings in Syria and Libya.
In Bulgaria Technoexportstroy has participated in the laying of fiber optic cable in various regions of the country for the purpose of Bulgartransgaz. In addition, the company has built two complexes with single-and multifamily houses in the neighborhood Malinova Dolina, a complex with indoor pool, spa, bowling alley, restaurant, lobby bar in Borovets and an apartment complex in Sunny Beach . The project of reconstruction and renovation of the Kempinski – Zografski hotel in Sofia is also something Technoexportstroy carried out (1979).
The construction company has branches and representative offices in Libya, in Algeria, Morocco, Iraq, Germany and a subsidiary in Russia.
Technoexportstroy participated in two strategic projects – the concession of separate sections of the Trakia and Hemus highways and was also part of the company established to build the Burgas – Alexandroupolis pipeline.
