The wagon repair factory in Karlovo is now owned by the German railway company Deutsche Bahn. The deal is being prepared for several months and finalized last week, informs Marica.bg.

The new owner intends to resume the production of freight wagons as well as their repair and also to extend the activity of repair and maintenance of locomotives. It is expected that VRZ, as the plant is better known, will start work in September by initially employing 70 workers, and in the next 18 months, a total of 300 jobs will be revealed.

"The recovery of the wagon repair factory, one of the main enterprises in the region, is expected to boost the development of the regional economy," said the mayor of the municipality Dr. Emil Kabaivanov.

In 2015, VRZ was bankrupt, after two years of struggling with financial problems.