The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Yugozapadna i Yuzhna tsentralna Bulgaria; Yuzhen tsentralen; Pazardzhik
Location of affected unit(s)
Pazardzhik
Sector
Manufacturing (26 - 27) Manufacture of electrical, electronic and optical products 27.2 - Manufacture of batteries and accumulators 27.20 - Manufacture of batteries and accumulators
200 jobs Number of planned job losses
Announcement Date
4 March 2026
Employment effect (start)
23 March 2026
Foreseen end date
31 December 2026
Description
Elhim-Iskra, a Bulgarian manufacturer of lead-acid batteries, announced that it will suspend production at its plant in Pazardzhik and dismiss around 200 employees. The suspension of operations is scheduled to begin on 23 March 2026, affecting nearly the entire workforce at the factiry.
The company stated that the restructuring is a result of a difficult financial situation caused by declining industrial production in key export markets such as Italy and Germany, and increased competition from manufacturers in Turkey, China and India with lower labour and energy costs, and rising production expenses. High electricity prices in Bulgaria and Europe, together with increasing labour costs, were also cited as factors.
The company plans to proceed with the termination of employment contracts after a period of temporary inactivity.
Elhim-Iskra reported revenues of about €15.4 million in the previous year but remained loss-making. The company specialises in the production of lead-acid batteries for industrial and automotive applications.
Eurofound (2026), Elhim-Iskra, Closure in Bulgaria, factsheet number 204352, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/204352.
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