KEYWORDS TODAY:   UkraineDonetskSouth Stream

Sole Bidder for Bulgaria's Ailing Military Plant to File Binding Offer

Business » INDUSTRY | January 11, 2013, Friday // 09:36| Views: 1060 | Comments: 0
  • Send to Kindle
Bulgaria: Sole Bidder for Bulgaria's Ailing Military Plant to File Binding Offer The sole bidder in the privatization of military plant VMZ Sopot is to submit a binding offer with the Privatization and Post-Privatization Control Agency on Friday. Photo by BGNES

The sole bidder in the privatization of military plant VMZ Sopot is to submit a binding offer with the Privatization and Post-Privatization Control Agency on Friday.

EMKO EOOD's bid will be presented on January 15 at the Ministry of Economy, Energy and Tourism, according to reports of the Bulgarian National Television (BNT).

Within 3 days from January 15, Economy and Energy Minister Delyan Dobrev will submit the bid for discussion at the Council of Ministers and the decision on the sale of the plant is to be made by January 23.

The privatization memorandum for Bulgaria's largest military plant does not envisage reductions of workers' salaries or staff cuts.

At the beginning of the week, workers at VMZ Sopot said they would hold protests until Friday and would wait to see the result of the sale.

The state-owned arms maker owes salaries of nearly BGN 2 M to its workers.

Apart from their discontent over delayed salaries, employees of VMZ Sopot also demand guarantees that the plant will have orders to work on.

Industry » Be a reporter: Write and send your article
Tags: military plant, VMZ Sopot, privatization, Privatization and Post-Privatization Control Act, Emko, Delyan Dobrev
Expats.bg All Are Welcome! Join Now!

Leave a comment


Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria