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.
Himko, a factory producing fertilizers that has not been utilized for the past four years, is to renew its production at the beginning of 2008 and will employ 800 workers from this point. This was announced by Andrey Semerdzhiev, the Chair of the Directors' board. Currently, a technical audit of the plant's equipment is being carried out that commenced on July 26th 2007 and will last for five to six months. When the plant begins to operate again, about 25% of the capacity of the lines of carbamide and ammoniac production will be utilized and from then on will be constantly increased. Himko was bankrupted at the end of 2004 with a debt of 85 million BGN. In September 2005, a recovery programme was prepared and after several court decisions was finally agreed upon on July 18th 2007.
Eurofound (2007), Himko, Business expansion in Bulgaria, factsheet number 65639, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65639.