GYPSUM MINE PROTESTS AGAINST FUTURE PRIVATIZATION

Business | September 5, 2001, Wednesday // 00:00

Four hundred workers and employees in Bulgaria`s only gypsum mine in Koshava, near Vidin, protested against the criteria, set for the mine`s coming privatization. The employees disagree with the decision of the Privatization Agency to sell 79 % of the capital of Gips EAD, Koshava. The protest is particularly against the proposed mechanism for sale - negotiations with potential buyers and 90% payment of the offered shares with compensatory notes and temporary certificates. `The controlling interest of the monopoly enterprise will be acquired by the new owners `in the dark` and at a price that is lower than its real market price in case that the company is privatized like that,` trade union leader Stefan Krustev said. A declaration with the objections was sent to the prime minister, the deputy prime minister and the ministers of regional development and of economy, as well as to the Supervisory Board of the Privatization Agency. The enterprise is a profit-making one. So far, British gypsum of Britain, Lafarge of France and the Austrian company Knauf have shown interest in the enterprise.

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