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Sat, Feb 11 2012
Kremikovtzi unions stage rally in Sofia, vow more protests
About 200 steelworkers from the Kremikovtzi plant near Sofia staged a rally on November 16 in front of the Alexander Nevski Square in central Sofia, Bulgarian National Television (BNT) reported.
The protest continued with a march to the Economy Ministry and the Finance Ministry. The protesters demanded to be granted a hearing and a meeting with ministers to discuss the future of the beleaguered steel plant.
Kremikovtzi labour unions are adamant that the government should play a more active role and try to save the communist-era flagship of Bulgaria's industry. Unions have said that the best possible solution would be to implement measures which would facilitate the financial recovery of the plant, particularly through the capitalisation of Kremikovtzi's debt.
Bulgaria's Economy Minister Traicho Traikov, however, appears in favour of the piecemeal sale of Kremikovtzi's assets to the highest bidders.
Kremikovtzi's debts are estimated to be worth 2.2 billion leva and rising, with power grid operator NEK owed 13 million leva since the end of August, BNT said.
Labour unions plan to continue their protests on November 17 in front of the Cabinet, provided that the Sofia city hall grants a permission for the planned rally.
The protest continued with a march to the Economy Ministry and the Finance Ministry. The protesters demanded to be granted a hearing and a meeting with ministers to discuss the future of the beleaguered steel plant.
Kremikovtzi labour unions are adamant that the government should play a more active role and try to save the communist-era flagship of Bulgaria's industry. Unions have said that the best possible solution would be to implement measures which would facilitate the financial recovery of the plant, particularly through the capitalisation of Kremikovtzi's debt.
Bulgaria's Economy Minister Traicho Traikov, however, appears in favour of the piecemeal sale of Kremikovtzi's assets to the highest bidders.
Kremikovtzi's debts are estimated to be worth 2.2 billion leva and rising, with power grid operator NEK owed 13 million leva since the end of August, BNT said.
Labour unions plan to continue their protests on November 17 in front of the Cabinet, provided that the Sofia city hall grants a permission for the planned rally.
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Kremikovtzi rescue plan rejected, on verge of asset sale
Bulgaria’s ailing steel behemoth Kremikovtzi is on the verge of asset sale after Sofia City Court rejected the plant’s rescue proposal, penned by the steel mill's bankruptcy receiver.
Bulgaria ready to retrain Kremikovtzi employees - official
Bulgaria's Government was ready step in with re-qualification courses for employees of debt-ridden Kremikovtzi steel mill in case the steelworks was shut down
Kremikovtzi's assets would not cover even half its debts
An appraisal estimates the troubled steel plant's assets at about 837 million leva, while it has debts of about 1.9 billion leva.
Kremikovtzi: 10 years after privatisation
Pride of Communist-era Bulgaria lies in ruins, 10 years after it was put in private hands.
Bulgarian government to pen Kremikovtzi plan
A working group will be formed to work out ways to lift ailing steelmaker Kremikovtzi out of the doldrums while protecting to the utmost the interests of the state, workers and bondholders, a government media statement said.
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If the plant is outdated it will not survive in todays cut throat industry throwing money at it does not work the unions have got to support there industry if they want a job for the future.