Anyone for a soviet era leviathan?

Article Abstract:

Several state-owned companies in Bulgaria face privatization problems because of debt and outdated technology. The Kremikovtsi steelworks in Sofia, Bulgaria, would cost $350 million to upgrade to the best European standards. The company owes the government $150 million for machinery which has not been installed due to a lack of funds. Kremikovtsi would be difficult to shut down as it is a major employer. Consultants working under the European Union's Phare programme are seeking to determine Kremikovtsi's most profitable businesses and may then close down the unprofitable operations.

Iron and Steel Mills, Blast furnaces and steel mills, Raw Steel, Management, Steel industry, Kremikovtsi

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Bulgarian privatisations face difficulties

Article Abstract:

Bulgaria's extensive programme of restructuring and privatization has seen mixed success so far. It appears that the privatization of Balkan Airlines may finally take place, but it is unlikely that the government will gain much money from this sale. The Bulgarian Privatisation Agency attracted controversy by intervening in the final stages of the sale of Rousse Shipyard, and it has now become clear that there are weaknesses in the links between the agency and its commercial consultants.

Economic policy

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Bulgaria indebted to private deal

Article Abstract:

The Bulgarian Post Bank is one of four banks planned to be privatised in Bulgaria. The others include Expressbank, Biohimbank, and Hebrobank. The sale of a 78% stake in the Bulgarian Post Bank has been delayed following the failure to reach an agreement with Japanese bank, Nomura. A decision is now expected in August 1998. Separately, Norsk Hydro is to invest $34 million in fertiliser and liquid ammonia producer Agropolyhim.

Banking Institutions, Depository Credit Intermediation, DEPOSITORY INSTITUTIONS, Agricultural Chemicals, Fertilizer Manufacturing, Fertilizers, Banking industry, Planning, Mergers, acquisitions and divestments, Banks (Finance), Securities, Fertilizer industry, Norsk Hydro ASA, Agropolyhim

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