The debts of the National Electrifical Comapny JSC (NEC) for 1996 amount to nearly BGL 6 billion. Among the major debtors of the enterprise are: the state-owned "Gorubso" JSC (Madan), "Stomana" JSC (Pernik), "Kremikovtzi" JSC (Sofia) and the Bulgarian State Railroads.
Source: Pari (08.01.1997)

"AKB Fores" JSC announced its intention to pay the debt of the state-owned "Stomana" JSC (Pernik) to CB "Biochim" JSC which amounts to USD 100,000, reported the Executive Diorector of the fund Ivailo Marinov.
Source: Pari (29.01.1997)

The state-owned "Stomana" JSC (Pernik) refused to pay interets of USD 300,000 on a credit granted by the USA in 1993 for the export of 150,000 tons maize, reported the Board of the Directors of the company. The money from the sale of maize was invested in "Stomana" JSC by Emil Hursev through a cession of a debt from "TSBank" JSC. The Management of the state-owned "Stomana" JSC did not recognize the cession.
Source: 24 chasa (12.02.1997)

Politimi Paunova-representative of the Ministry of Industry, was appointed Chairman of the Board of Directors of the state-owned "Stomana" JSC (Pernik). Temporarily Chairman was the District Governor Charodey Chernev.
Source: Pari (27.03.1997)

The management of "National Electrifical Company" will undertake measures for the proclamation of the major debtors of the enterprise insolvent. Among them are: "Gorubso" JSC (Madan), "Stomana" JSC (Pernik), "Vidachim" JSC (Vidin), "LecoCo" JSC (Radomir), "Neftochim" JSC (Bourgas), "Kremikovtzi" JSC (Sofia) and "Biovet" JSC (Pestera).
Source: Pari (18.04.1997)

At the General Meeting of the shareholders of "Stomana" JSC (Pernik) was elected a new Board of Directors with members: Mr. Charodei Chernev, Mr. Nikolai Galev, Mrs. Politimi Paunova, Mr. Stefan Konakchiev and Mr. Ivan Dimitrov. At the meeting was also adopted a statute of the company. 2.37 per cent of the shares are owned by employees of "Stomana" JSC.
Source: Pari (28.05.1997)

Mr. Charodei Chernev is elected Chairman of the Board of Directors of the state-owned "Stomana" JSC. Mr. Nikolai Galev is elected Deputy-Chairman.
Source: Pari (03.06.1997)

The state-owned metallurgic plant "Stomana" JSC ended the first half of the year with a net book profit in the amount of BGL 19 billion. The company's debts to the banks affected negatively the annual financial result.
Source: Pari (24.07.1997)

The technical-industrial council of "Stomana" JSC (Pernik) approved a programme for ecological reconstruction of the enterprise, reported the Chief Ecologist Mr. Ivan Dimitrov. The execution of this project will cost BGL 425 million.
Source: Kontinent (18.08.1997)

"Stomana" JSC (Pernik) has signed a contract with Russia about an import of 15.000 tonnes scrap. 3.000 tonnes scrap have already been sent at Bourgas Port. Intermediary of the deal is "Darumetal". Another 15.000 tonnes scrap have been negotiated with Roumania.
Source: Trud (27.08.1997)

Privatization Agency opened procedures for the privatization of: 75 per cent of the shares of "Intertravelservice" JSC (Sofia); 33 per cent of the shares of "Slavyana" SPJSC (Slavynovo); 75 per cent of the shares of "Sviloza" SPJSC (Svistov); 75 per cent of the shares of "Elenite" SPJSC (Nesebur); 75 per cent of the shares of "Stomana" SPJSC (Pernik); 75 per cent of the shares of "Dyuni" SPJSC (Sozopol); 75 per cent of the shares of resort "Rusalka" (Kavarna).
Source: State Gazette (12.09.1997)

The production of rolled iron will decrease with 80 per cent and the production of steelworks will decrease with 50 per cent in the next 3-5 years, according to a programme approved by the Ministry of Industry. The programme provides for investments in the amount of USD 50 million per year. The programme also provides for solution of the problem for the debts on ZUNK bonds of "Kremikovtzi" JSC - USD 80 million and BGL 2,8 billion as well as for the debts of "Stomana" SPJSC (Pernik) of USD 18 million.
Source: 24 chasa (15.10.1997)

The production of rolled ferrous metals will be reduced from 4,23 million tones per year down to 2,2 million tones per year, said Mrs. Politimi Paunova, Director of Heavy Industry Department in the Ministry of Industry. 50 per cent of the produced metals will be exported. This branch of industry needs USD 600 million in order to operate effectively. The money will be granted to "Kremikovtzi" JSC, "Stomana" JSC (Pernik) and "Kamet" JSC (Bourgas).
Source: Kontinent (04.11.1997)

"Stomana" JSC (Pernik) will start a trial exploitation of a new furnace. The equipment is imported by "Mannesman - Demag". The new furnace will come into exploitation till the end of 1997. The new equipment enables a reduction of the production costs with USD 30 - 40 per one ton.
Source: Democracy (06.11.1997)

"WS Atkins" Ltd. (Great Britain) was determined to be privatization consultant of: "Stomana" JSC, "Kremikovtzi" JSC and "Promet" JSC. Members of the consultant consortium are: "Top Lega" (Bulgaria), "Coopers&Loybrand" (Bulgaria) and the Branch Chamber of Ferrous and Non-ferrous Metallurgy. The negotiated payment for successful deals is ECU 1 million.
Source: Pari (06.11.1997)

"Stomana" JSC produced in October production in the amount of BGL 20,566,600,000. The plant cannot work at its full capacity, because of lack of raw materials.
Source: Pari (02.12.1997)

Till November 31 the credits granted by "Bulgargas" JSC were in the amount of BGL 350 billion, said Mr. Ivan Shilyashki, Chairman of the Enregetics Committee. Among the major debtors of the company are: "Neftochim" JSC, "Kremikovtzi" JSC, "Neochim" JSC, "Agrobiochim" JSC, "Agropolichim" JSC, "Alumina" JSC, "Stomana" JSC, "Belopal" JSC. The company has signed contracts for payment of the debts with some of the debtors.
Source: Kontinent (02.12.1997)