Bulgarian textile company Nikolov & Sons established in 1999 specializing in the manufacture and trade of covered elastic yarns and threads is planning to launch a 1.2-million euro ($1.34 million) production line for textured silk at its plant in Parvomay, southern Bulgaria this September.

The project is funded with own funds of the company and a bank loan. The new production line will have a capacity of 30 tonnes per month and will create 10 new jobs.

Going forward, Nikolov & Son plans to double the production capacity of the new line and to start the construction of a dyeing unit in 2017. The planned investment, which amounts to 700,000 euro, will open 12 new jobs.

In 2016, the company's net profit rose to 360,000 levs ($205,800/184,100) from 190,000 levs in 2015, according to Capital Daily.

The company "Nikolov & Sons" SA is the exclusive representative for Bulgaria of the Thai company H.V.Fila Co. Ltd., which is among the world's leading manufacturers of rubber fiber.

Additionally, they offer polyamide and polyester textured silks and polyurethane elastic yarns (Spandex, Lycra).