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.
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Fabricated Metal Products, Except Machinery And Equipment 25 - Manufacture of fabricated metal products, except machinery and equipment
300 jobs Number of planned job creations
Announcement Date
10 March 2006
Employment effect (start)
31 March 2007
Foreseen end date
Description
Stomana Industry, part of the Greek owned VIOHALKO group, is building a new workshop investing between €40 and €45 million. The new factory will produce reinforced concrete and special steel and is expected to become the biggest producer of these goods in the Balkans. The new workshop will be equipped by the specialised Italian company, Danelli, and will feature furnaces and a rolling mill unique in Bulgaria. Production is expected to exceed BGN700 million per year, more than 50% of it for the domestic market. The Bulgarian Minister for Economics, Rumen Ovcharov, expects the need for imports of steel products to drop to BGN400 million as a result, which will improve the foreign trade balance of the country.
Sources
10 March 2006: Dnevnik
11 March 2006: 24 hours
Citation
Eurofound (2006), Stomana Industry, Business expansion in Bulgaria, factsheet number 63121, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63121.
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