Bulgarian Company Takes Over Paraćin Glass Factory

Date: 7 February 2007
Source: B92.net

Date: 7 February 2007

Bulgarian company Rubin to officially take over Serbian glass factory in Paraćin. The Bulgarian company is expected tol invest more than 50 million euros in the Serbian glass factory.

Borivoje Jevtić, president of the factory’s trade union, said that the take-over will take place after the new owner gives a banking guarantee of 25 million euros and provides 90 percent of workers with a settlement of pending debt.



The Serbian glass factory in Paraćin was sold on November 9, 2006 to the Bulgarian company for 100,000 euros. The new owner pledged to take over the factory’s debt and to invest 25 million euros in production.



As Jović said, the factory has accumlated a debt of 130 million dinars owed to the workers for breaching collective agreements in the past. “The factory employed 1,914 workers. 294 workers have been made redundant and received 100 euros per working year from the state, and the owner has committed to paying an additional 160 euros per working year”, Jevtić said.



Read the entire news on the source link below.
600450 Bulgarian Company Takes Over Paraćin Glass Factory glassonweb.com

See more news about:

Others also read

MORE...

Make Fused Art In Your Microwave
Delphi Glass, the premier source for all glass craft needs, offers a more convenient way to fuse glass and create custom jewelry -- the microwave kiln.
Schott: Ultra Pure Glass for Teeth
Extremely fine glass powder from SCHOTT provides greater stability and density to high-quality composite dental fillings.
Morse Industries Adds Shannon Forthuber To The Sales Team
Inside Sales is  pleased to welcome Shannon Forthuber as the  newest team member at Morse Industries, a provider  of top-of-the-line aluminum, stainless steel, plastic  and custom parts and extrusions for the marine,  architectural, and fixture industries as well as other  industrial manufacturers.
Kootenai County Ends Glass Recycling, Says Too Costly
The Kootenai County solid waste director in northern Idaho says the county will no longer accept recycled glass when the new year starts.
HyRadix Inc. Announces Supply Agreement With Praxair India
HyRadix® Inc., a leading provider of on-site hydrogen generation systems and supply solutions, has entered into an agreement with Praxair India, a subsidiary of US based Fortune 300 company, Praxair, Inc., for the supply of the HyRadix Aptus® on-site hydrogen generator for industrial hydrogen applications within India.
Emhart Glass to Expand Manufacturing Facility in Windsor, Connecticut
The company will be eligible for a loan forgiveness credit of $500,000 provided that it creates and retains 90 jobs by the third anniversary year of the assistance agreement.

Add new comment