Bulgaria -Troubled military plant now for sale -July 5, 2012

The ministry of energy and economy has announced that the privatisation process of the troubled VMZ Sopot military plant will start this summer. The increasingly debt-ridden company was set to be privatised after a vote in Parliament in 2011 but no actions had been taken. According to the minister there will be interested private partners. 1 million BGN has been set aside to pay part of the delayed wages for the 3,700 workers at the plant. As reported in last month’s newsletter, workers of the VMZ Sopot military plant have threatened industrial action unless they receive their delayed salaries. The workers state that payment of salaries was repeatedly delayed for the last 1.5 year and that wages for January, April and May are currently due. VMZ Sopot is the largest military plant in the country and produces both military and civil products.

English: http://www.novinite.com/view_news.php?id=140985



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