Tag: Bulgaria
Vipal distributor Basvulk opens training centre
Vipal is celebrating the recent inauguration one of its largest European customer’s new training centre. Basvulk, based in the city of Kyustendil, Bulgaria has opened the new facility with the aim of “improving the knowledge of its customers”. To this end, Basvulk offers training opportunities to those who want excellence and the correct application of materials during the repairing process.
Vidachim to cut staff by 150, not 314
Bulgarian-based car tyre manufacturer Vidachim has reduced the scale of planned staff cuts from 314 to 150. The new plans were announced on Monday 16 March 2015 after a meeting of Energy Minister Temenuzhka Petkova with workers and senior executives of the plant. However, it is not clear how long these measures can delay further […]
Bulgaria’s Vidachim ceases tyre production
The Sofia News Agency reports the end of production at the tyre division run by Bulgarian holding company Vidachim AD. It says Vidachim chief executive officer Tsvetomir Leshtarski informed Bulgaria’s State Energy and Water Regulatory Commission (DKEVR) that the ‘Pneumatic Tire Factory’ would stop producing industrial tyres as of today. The company produced its first ‘Vida’ brand tyres in September 1969, and recommenced pneumatic tyre production following the firm’s privatisation in November 2004. However, reports indicate that only small quantities of tyres have been produced of late, and the company’s main source of income is now electricity production. As Bulgaria’s state-owned National Electric Company (NEK) owes it around BGN 19 million (£7.6 million), Vidachim is unable to continue production or pay salaries.
Serbia open for business
With Cooper, Mitas and most recently Michelin all upping production capacity in Serbia, you can understand the Serbs have invested in communicating the benefits of locating tyre production in the area during the course of 2014. But that’s not all. They have also invested in travelling all the way to Grungrao, Shandong provice, China in order to court the attentions of up-and-coming Chinese tyre manufacturers too.
A European plant for Nexen?
A news release from Bulgaria’s Ministry of Economy and Energy suggests that Nexen Tire intends to become the second Korean tyre maker with a manufacturing presence in the European Union. The Ministry reported that a meeting with a leading tyre maker took place during a visit to South Korea by Bulgaria’s Deputy Minister of Economy and Energy Krasin Dimitrov.
Trayal Sold to a Bulgarian Power Supplier
Serbia’s second largest tyre manufacturer, Trayal Corp., is soon to be sold and therefore privatised. According to reports, the privatisation agency in Serbia has announced a public tender to bid for the traditional state-owned company. The Bulgarian power supplier Brikel EAD has now made the highest offer and will soon start to negotiate the details of the deal with the agency, local media sources wrote. The bid was £8.2 million for a majority share plus modernisation investments of up to £16.9 million.