Technowood, part of the local holding company Balkanstroy launched a BGN 70mn (EUR 35.8mn) plant for production of wood materials. More than 200 workers have already been employed and the number of all employees is to reach 450 by end-2010. The facility, located on 10,000 square metres in the south-western town of Razlog , has the capacity to process more than 50,000 cubic metres of timber annually. The company strives to grab 20-25% of the local market for wood products used in construction and 20% of the interior door sales. Balkanstroy provides engineering, design, architectural and similar services; investment and contracting services, operations and maintenance services, and direct-hire construction and construction management services. The net profit of the company decreased by 75.4% y/y to BGN 3.9mn last year due to large investments in the subsidiaries.