VMZ Sopot has a large order from abroad

VMZ Sopot has a large order from abroad for special products but cannot fulfil it for lack of money to buy inputs, Darik radio reported on Thursday, citing a source from the plant’s management. Late on Wednesday, the trade unions received an economic analysis of the current state of VMZ. According to the managers, the enterprise may survive if 900 of its workers are laid off, extrinsic activities are suspended, production is consolidated, and expenses for electricity and fuel are cut down.

The survival plan projects also to remove the company from the list of enterprises of strategic importance for the country’s economy, which is part of the Privatisation and Post-privatisation Control Agency and offer it for divestment afterwards.

“We have sent the analysis to the headquarters of the Confederation of Independent Trade Unions in Bulgaria (CITUB) and the Podkrepa Labour Confederation, but for us the sacking of 900 workers is unacceptable. I believe the enterprise can be stabilised by reducing the staff by 500 to 600 people,” Dimitar Atanasov, Chairman of Podkrepa at VMZ Sopot, commented on the most painful issue concerning the redundancy at the enterprise.

Atanasov added that VMZ Sopot is on the edge of survival. For the time being, the syndicates succeed to withhold the workers from blocking roads because wages for October 2012 and an advance remuneration for November are expected to be paid within days. Moreover, there are fears that political parties will use the protest for their own purposes.

Later on, the President of Podkrepa Konstantin Trenchev said he has information that there is investment interest towards VMZ Sopot, including interest from abroad.

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