Restructuring events
European Restructuring Monitor (ERM)
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.
BULYARD Shipbuilding Industry AD needs to hire some 2,000 specialists in a very short time, announced the president of Management Board Dimitar Zhelev. They have to be mainly welters, ship hull builders and ship-pipe builders - professions, which are very deficit not only in Bulgaria, but also in the world. BULYARD has already started its own vocational training center where people from the Varna and neighbouring regions are trained according to the needs.
BULYARD Shipbuilding Industry has been entered in the short list of subcontractors for building of NATO vessels for the French company “ARMARIS”. This is a large-scale European program between Italy and France for the development and building of 27 multi-mission frigates class FREMM – warships with a new generation combat management system.
At the end of 2005, a contract was signed for the building of the first 17 frigates, which are for the French Navy. The project is for a period of 10 years. As a subcontractor, BULYARD Shipbuilding Industry will build the hulls of the vessels. The contract is valued at over €100million. For the next years BULYARD also has orders to build 3 ships for the Bulgarian Navy, and the management is negotiating with Dutch, Italian and Norwegian firms for further orders. For 2006 the management expects incomes of the firm to reach BGN 70 million, said Mr. Zhelev.
Eurofound (2006), BULYARD Shipbuilding Industry AD, Business expansion in Bulgaria, factsheet number 63480, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63480.
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