Tue, Feb 09 2010

Russia disputes ownership of Bulgarian tobacco company

Sun, Apr 12 2009 18:24 CET byGabriel Hershman 2092 Views 1 Comment
Russia disputes ownership of Bulgarian tobacco company

Photo: Wikipedia

The Southeast European Times is reporting that Russia intends to take back a number of companies abroad that were once the property of the former Soviet Union, including Bulgarian cigarette maker Bulgartabac, Vladimir Kozhin, head of Russia's Presidential Property Management Department, said on Thursday April 9.

Bulgartabac is a Bulgarian tobacco holding company and one of the leading tobacco products producers in Central and Eastern Europe, as well as a major European cigarette producer. Established in 1947 and based in Sofia, it includes 22 joint-stock subsidiary companies in the tobacco-growing regions of the country.

"Bulgartabac produces more than 50 cigarette brands and subbrands in its modernizsd factories in Sofia, Plovdiv, Blagoevgrad and Stara Zagora, using both domestic and imported tobacco. Among the company's brands are Victory, Femina, Prestige, Slims, Bulgartabac, MM, Melnik, Seven Hills, Global, Bridge, Tresor, BT, Charlie, Nevada, Orient Express and Country.

"We are investigating ... and if we find out that the company was once ours, but in a not very legal way has come into foreign hands, we will launch a procedure for its return," Kozhin said, quoted by the Southeast European Times.

Russia has repeatedly raised the question of Bulgartabac's ownership. The Soviet Union acquired it as reparations after World War 2.

Comments

Anonymousanti-smokingMon, Apr 13 2009 09:45 CET

This comment has been removed by the moderator because it contained

Anonymous no-way-ivan Mon, Apr 13 2009 06:23 CET
Inappropriate comment?

Bulgaria should setup a reparations committee for the period of Soviet's reign.

Write comment

Name:Comment:

Generate new code
Send your comment

By posting a comment, you are deemed to have read and agreed to our
Acceptable Use Policy.

Bulgartabac Holding can be privatized by the middle of 2010

Economy Minister Traicho Traikov says the price could be 100 million euro

All EU states sign up against illicit tobacco trade

UK joins other EU states in anti-contraband and anti-counterfeit agreement with major tobacco producers.

More in this category

Global Toyota Prius recall affects Bulgaria

Toyota made a global statement announced that around 436 000 vehicles worldwide are to be recalled for inspection and upgrade, including the latest Prius model which is sold in 60 countries, Bulgaria included

Construction of Sofia's Serdika Center mall to resume

Builders have met all municipal requirements and will also pay to renovate parks.

Business person of the year contest launched

Non-Bulgarians can also be nominated as long as the company they own or work for has a minimum of five per cent Bulgarian capital.

Christmas shopping fails to cheer up Bulgaria retail sales

The Christmas shopping season has not driven up retail sales in Bulgaria, according to the latest data of Eurostat, the EU’s statistical office.

Just a blip

The global financial crisis has slowed down globalisation, but only temporarily, one study says

Appointments

Fisheries and Aquaculture

Fisheries and Aquaculture

Yavor Nedev has been appointed head of the state National Agency of Fisheries and Aquaculture. He replaces Yordan Staikov who join the team of advisers of Agriculture Minister Miroslav Naidenov. In 2009, Nedev was appointed by Naidenov as director of the recently-founded state Fishery Resources company, which is to manage fishing ports and operate with EU funds. He has been vice president of the Bulgarian - Swiss Chambers of Commerce as well as president of Cherno More football club in Varna. Nedev has also worked as a political scientist and university professor.

© 2000-2010, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.