Luxembourg-based international logistics service provider Logwin has started a Bulgarian subsidiary with high hopes for the Bulgarian economy, according to a company statement.

Logwin formally set up its own national organization in Bulgaria on June 20, when it opened its first location in the country's capital Sofia in the logistics center at Sofia Airport Center, starting national and international transportation from Sofia, warehousing, value-added services as well as air and sea freight.

Ingo Schlieper, Country Manager at the Bulgarian national company has assumed responsibility for managing the location together with Country Manager Mario Aschbacher.

"Bulgaria is a particularly interesting place to do business as the country has been a member of the EU since 2007 and offers investors a variety of investment opportunities, particularly in the areas of agriculture, industry and IT. On the whole, Bulgaria's economy is experiencing an upswing. The retail trade in the EU member state in particular is benefiting from increased domestic demand." Logwin said in its statement, vowing to focus on retail and automotive sectors.

"We have already succeeded in acquiring customers from the retail sector. Economic growth will continue to have a positive effect on our business," says Mario Aschbacher.

Logwin points out it has been operating in Eastern and Southern Europe since the 1990s and has been constantly extending its network of locations in the region. The establishment of a national company in Bulgaria comes after the opening of branches in Serbia and Romania.

"Our network is becoming more closely knit, transport is becoming faster and more efficient – in a word, we are offering an improved service in the region," Ingo Schlieper is quoted as saying.

In 2010, Logwin AG, based in Grevenmacher (Luxembourg), generated sales of EUR 1.4 B, and currently employs over 5 600 staff, at approximately 250 locations around the world. Logwin AG is listed in the Prime Standard of the Deutsche Börse. The majority shareholder is DELTON AG, Bad Homburg (Germany).