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SPARKY ELTOS AD will distribute its production through subsidiary companies

Friday, 17 April, 2009

SPARKY ELTOS AD signed a contract for buying 100% of SPARKY Trading EOOD from SPARKY GROUP AD for 800 000 BGN. This contract is a part of structure changes of SPARKY GROUP AD, which is the majority shareholder of SPARKY ELTOS AD (69.53%). As a result the production of the plant will be distributed on the Bulgarian and other markets  by it's subsidiaries. The subsidiaries will be consolidated in the financial reports of the company. The change of the company's structure will be in best interst of the shareholders and investors of SPARKY ELTOS AD.

SPARKY ELTOS AD is the only producer of power tools in Bulgaria. The product structure of the company counts more than 150 types of professional power tools, which includes various modifications of cordless power tools, impact drills, hammers, angle grinders wall chasers, routers and saws.

SPARKY ELTOS AD has its own R&D centre.

 SPARKY ELTOS AD distributes its production on the Bulgarian market, as well as on markets in more than 70 countries.

SPARKY Trading EOOD is a primary distributor of SPARKY ELTOS AD's production and an owner of SPARKY Power Tools GmbH, Berlin, which manipulates on foreign markets. The subsidiary is in process of purchasing four companies, which operate on the markets in Poland, Hungary, UK and Ukraine.

 By the purchase of SPARKY Trading we manage to increase the coordination processes between the production and sales departments of the company. This reorganization will lead to synergic processes and will contribute to strong and stabile synchronization. SPARKY ELTOS AD will pay prefer price of 800 000 BGN. The consolidated financial statements will give full information about the processes in the company and its subsidiaries.

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