Workers from the Lead and Zinc Complex in Kardjali to sue Valentin Zahariev for wages

More than 250 steelworkers from the Lead and Zinc Complex in Kardjali have submitted applications for calculating the amount of their overdue wages by the owner Valentin Zahariev, reported BGNES. The workers have not been paid since February 2012. After receiving the accounting records, they will seek their money in court. The submission of applications in the accounting office of the lead and zinc plant will continue in the next few days. This morning, the syndicates at the enterprise informed the steelworkers of the talks held during the weekend with First Investment Bank (FIB), which has found an investor for the Lead and Zinc Complex but it is not the Polish holding company Silesia.

Currently, this stops workers from taking extreme action and, for the time being, they will refrain from going off their jobs as they announced last week. Today, only three applications for this were submitted.

The name of the new investor is kept secret and none of the steelworkers knows the name of the company. The liabilities of the Lead and Zinc Complex in Kardjali to FIB amount to almost BGN 54 mln. The loan is secured by buildings in the zinc plant, ore concentrates and equipment for the construction of entirely new facilities. A distraint on these has already been imposed. According to pundits, the idea is for the bank to take possession of the property and to begin to manage it, claims BGNES. According to Vassil Hristov, Executive Director of FIB, a solution is expected within two or three weeks. We will wait and will not urge our members to go off their jobs, said the two syndicates at the enterprise.

FIB is one of three creditors of the plant. The other liabilities of the Lead and Zink Complex are to Credit Suisse and Paribas. Their position on the future of the first Bulgarian metallurgical plant is not known.

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