Economy Ministerv: "Kremikovtzi Is Being Asset-Stripped"

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Economy Ministerv:

"We have information that the prices at which the Kremikovtzi Iron and Steel Works purchases its inputs are exorbitant and through them the company assets are being practically stripped," Bulgarian Economy and Energy Minister Peter Dimitrov said on Wednesday cited by BTA.

Under the circumstances, a managerial agent has to be appointed at the works who must have access to all information on what is going on there, the Minister said.

Dimitrov said he sees good prospects after a meeting with Kremikovtzi executives on Tuesday evening. "The problems the works is currently experiencing are the difficulties of its owner, and not related to the market or to inputs supply," the Minister insisted.

In a separate development, the owners and workers' unions have signed an agreement for a10 per cent rise in wages as of March 1, the Podkrepa trade union announced.

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