The Austrian manufacturer of lifting and loading systems, Palfinger, is planning to invest EUR 20mn to EUR 30mn in a new plant near the southern village of Tenevo . Construction works have already started and are expected to be completed by the end of next year. The new factory is expected to double the production of hydraulic cylinders of the already existing unit in Tenevo. The Austrians run another plant named Beta in the northern town of Cherven Briag . The sales of the company are expected to reach EUR 65mn this year against EUR 55mn last year. The revenues of Palfnger at global level are expected to reach EUR 760mn this year and more than EUR 1bn in 2013 as compared to EUR 585mn last year. About 30% of its production goes to Spain .