Trade Unions See Bankruptcy Push at Bulgarian Arms Plant VMZ Sopot

Business | July 16, 2015, Thursday // 15:15
Bulgaria: Trade Unions See Bankruptcy Push at Bulgarian Arms Plant VMZ Sopot Photo by BGNES

The Confederation of Independent Trade Unions in Bulgaria (CITUB) has claimed that the arms plant VMZ Sopot is being pushed towards bankruptcy aimed at change of ownership.

Trade union representatives at the military plant believe that it will not be possible to pay the salaries and social security contributions of some 2500 military plant workers.

They also say that permanent jobs at the plant will be lost because the senior officials are failing to organize repair works essential for the production process due to the alleged lack of funding.

CITUB predicts that the production process, the technology, and the finances of VMZ Sopot will reach a state of collapse in 2-3 months’ time, according to the Bulgarian National Radio.

Meanwhile, Economy Minister Bozhidar Lukarski told journalists Thursday that he did not intend to change the management team of the company at the current stage.

He said that trade union representatives at the military plant had stated their concerns at a meeting with Prime Minister Boyko Borisov on Wednesday, adding that their opinions would be taken into consideration and that the tension would be resolved.

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Tags: VMZ Sopot, military plant, bozhidar lukarski, Confederation of Independent Trade Unions in Bulgaria, CITUB, trade union
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