Turkey's Sisecam Freezes Further Investment in Bulgaria

Business | May 10, 2007, Thursday // 00:00

Turkish glassware maker Sisecam, one of the biggest green-field investors in Bulgaria, said it froze plans for further investment in the country until the government amends the labour legislation.

Bulgaria's two most important labour laws - the Labour Code and the Collective Labour Disputes Settlement Act - contain contradictory stipulations, company officials said.

That allows employees to disregard the collective labour agreement with Sisecam, as they did to go on strike last year, demanding higher wages.

The dispute was settled after Sisecam agreed to raise salaries by an average 10%, but remains wary of a repeat.

The Turkish company has invested USD 220 M in three glassware factories and had earmarked an equal amount for future investment.

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