BIGGEST LEAD/ZINC SMELTER TO POST BGN 2,5 M LOSS

Business | December 13, 2001, Thursday // 00:00

Plovdiv-based KTZM, Bulgaria’s biggest lead and zinc smelter expect its 2001 losses to reach BGN 2,5 M. The loss was due mainly to record low global prices and the investment of USD 40 M in a major economic upgrade of production facilities. 2001 revenue is set at BGN 199,5 M, Nikola Dobrev, KTZM’s Executive Director said. The plant’s production accounts for 67% of Bulgaria’s annual zinc production and 57% of lead output. In 2000 the plant showed a BGN 9,4 M net profit, a 1,1 % increase in comparison with the previous year.

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