Thu, Feb 09 2012

Company Briefs

Fri, Oct 03 2008 10:00 CET

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EKO AND OPET/AYGAZ DEAL
The Bulgarian Commission for Protection of Competition greenlighted fuel distributor Eko Bulgaria to acquire peer Opet/Aygaz. The deal would ensure that Eko is one of the top five fuel dealers on the local market, Bulgarian-language daily Dnevnik reported on September 30. Eko is part of Greek Hellenic Petroleum. In June, the company said that it would pay 35.25 million euro to buy Opet/Aygaz Bulgaria from Turkish company Koc Holding. The deal added 17 petrol stations to Eko's network, expanding it to 75 units.

DIESEL AND PETROL
Lukoil Neftochim Bourgas has started construction on two new production sites for diesel and petrol fuels, with a view to meeting the European standard Euro-5. As a requirement of the European Union, the standard is obligatory as of January 1 2009, Bulgarian-language daily Pari reported on September 30. Euro-5 determines the production of fuels with ultra low level of sulphur up to 10ppm.

KREMIKOVTZI'S DUTIES
Vorskla Steel Bulgaria, owned by Ukrainian tycoon Konstantin Zhevago, has finally paid 22 million leva in overdue salaries owed to Kremikovtzi steel mill employees for the months of June and July 2008. Bulgarian-language daily Monitor said on September 30 that more than 500 people also received 795 000 leva in social funds for food and other essentials. Vorskla Steel has a subcontracting deal with Kremikovtzi and has pledged to pay overdue salaries at the steel mill. Kremikovtzi's output for the period August 26-September 24 was 57 500 tons of steel. The planned volume of 70 000 tons for September was reached, Vorskla Steel said.

SMALLER PROFITS
The Blagoevgrad subsidiary of state-owned tobacco company Bulgartabac expected a profit of 15 million leva for 2008, half as much as for 2007, Bulgarian-language daily Pari reported. The company said that production has not decreased, but the higher excise duties ate into its profits. Expectations for 2009 and 2010 were similarly downgraded for the same reason.

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Appointments

British Council

British Council

Lyubov Kostova was appointed country manager of British Council Bulgaria effective January 1, replacing Tony Buckby, who left in October 2011 to take a similar position at British Council Greece. Kostova has been with British Council Bulgaria for 11 years, as public communications manager and, since 2008, as the head of project and partnerships department. Prior to joining the British Council, Kostova was head of international activities at the National Academy for Theatre and Cinema Arts (NATFIZ). She has a degree in Indian studies from Kliment Ohridski Sofia University.

CEZ

CEZ

Stefan Apostolov is the new chief executive of CEZ Razpredelenie Bulgaria, the power transmission subsidiary of Czech energy company CEZ in the country. He replaces interim chief executive Ales Damm, who remains the chairperson of the CEZ Razpredelenie management board. Apostolov has 30 years of experience in the energy sector, joining CEZ in 2007 as director of customer service and was later appointed as head of business development. Apostolov has a master's degree in electric systems from the Belorussian National Technical University in Minsc, management diplomas from Open University London and New Bulgarian University, as well as a master's degree in business administration from Plovdiv University.

Rompetrol Bulgaria

Rompetrol Bulgaria

Alexander Albin has been appointed chief executive of fuel distributor Rompetrol Bulgaria, replacing Nichita Sorin, who left to become chief executive of Rompetrol Gaz in Romania. Albin was previously chief executive of Rompetrol Georgia. He has more than 15 years of experience in the oil and gas industry; prior to joining Romania's oil group Rompetrol in 2008 as an adviser, he oversaw operations at Atyrau refinery in Kazakhstan, owned by Rompetrol's parent company KazMunaiGaz. He previously held top management positions at two other leading Kazakh oil and gas companies.

BASF Bulgaria

BASF Bulgaria

Valentina Dikanska is the new general manager of chemical industry giant BASF subsidiary in Bulgaria, taking over from Herbert Fisch, BASF vice president for Southeastern Europe. Dikanska, who started her career as an expert in the Finance Ministry, joined BASF Bulgaria as director of finance and administration in 2002. She becomes the first Bulgarian to hold the top management position in the company in its 40-year history on the Bulgarian market. Dikanska holds a master's degree in economics from the University for National and World Economy in Sofia.

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