About 200 companies are among the biggest debtors to the National Insurance Institute. Among the biggest debtors are Stomana Pernik, Vidahim JSC, Kwartz JSC, Plama JSC, Polimeri JSC, Kitka JSC, Stara reka, tezhko Mashinostroene, Berg Montana fittingi JSC and Promet JSC.
Source: Trud (04.01.2001)

Two of the declared for sale objects of Pernik-based metallurgic company Stomana JSC were sold for totally BGN 1.7 million, was reported from the Ministry of Economy. Sofia-based company Fericom Ltd. bought at public auction equipment for the amount of BGN 1 614 080. Initially the declared price for the equipment was BGN 388 000. Silikathim Ltd. won the auction for the steel work-shop as the only one candidate. The offered price is equal to the initially declared - BGN 120 000. With the incomes from the sale of the objects will be paid off a part of the debts of Stomana JSC to the creditors.
Source: Standart (08.01.2001)

Economic and Investment bank whose Director of the Supervisory Board is Mr. Slavcho Hristov initiated a case for declaration in insolvency of Russalka holiday village. At the moment the debts of the resort are in amount of USD 1.2 million with the interests included. Except Russalka in the credit portfolio of the former Economic bank there are receipts from Bulgarleasing JSC, Kremikovtzi JSC, Stomana JSC, Promet JSC, Bourgas Shipyards JSC and Ocean Fishing JSC.
Source: Capital (27.01.2001)

With a decision of February 27, 2001 Sofia Appeal Court confirmed entirely the decision of Pernik District Court as of July 10, 2000 for approval the reconstruction plan of Stomana JSC. With it was rejected the complaint of Bulgargas. The Court approves the concept set in the reconstruction plan that the creditors from 4th grade among which is also Bulgargas, will not receive certificate. In Stomana now are working 2 500 employees with an average working salary of BGN 403.
Source: BTA (05.03.2001)

In the accepted from the government project for amendments the Energy Law foresees that third countries the admit the electro-supply system of NEC will start from 1 January 2002. In it are not specified the criteria which has to satisfy a certain enterprise in order to enter the group of the big consumers. In the international practice this usually happens with establishment of the amount of annual consumption. In the project of Mr. Dimitar Ivanov is given such a criterion - 1000 million kilowatt hours annually. This is the consumption of metallurgic plants and the enterprises from the chemical industry. If this limitation is accepted in the group of the privileged consumers will be included Kremikovtsi, Stomana, Agropolichim, Neftochim and Chimko, commented from Energoproekt.
Source: Capital (16.03.2001)

A Court claim slows down the negotiations with a foreign investor that has an interest in Pernik-based Stomana, declared the Director of Metalitzi to KNSB Mr. Vassil Janachkov. The claim is from Bulgargas that litigates the reconstruction programme of the company and wants it to be stopped. The gas monopolist insist Stomana on starting the payment of its debts. According to the reconstruction programme Bulgargas is a creditor 4th grade and will receive its funds last. The argues prevent Eurometal, an owner of 50 per cent of Stomana from the negotiations for establishment of joint-ventured company with a foreign investor.
Source: Sega (05.04.2001)

The syndical leaders from the state-owned company Stomana JSC - Pernik that is in insolvency threatened with protest activities in case the Government does not make Bulgargas to retract its claim against the reconstruction plan of the company.
Source: Dnevnik (06.04.2001)

According to the syndicate (KNSB) the Greek group Viohalko wants to invest USD 50 million for renew of the production capacities of Stomana JSC in Pernik. But this may happen after the restructure of the property and at execution of the reconstruction programme for the company. The accepted reconstruction programme for the company was disputed only by Bulgargas SP JSC, reminded KNSB. BGN 28 million are the debts of Stomana JSC to Bulgargas. If Stomana - Pernik is declared in liquidation, 2 333 will remain without work.
Source: BTA (12.04.2001)

Bulgargas withdrew its claim against Stomana in Pernik Appeal Court, was reported from the Ministry of Economy. The Management of the company sent an informing letter for its decision to the Minister of Economy Mr. Zhotev. The debts of Stomana amount to BGN 180.953 million from which the receipts of Bulgargas are BGN 33.5 million. Since Stomana pays its current accounts, its debts to Bulgargas reduced to BGN 27 million.
Source: BTA (13.04.2001)

Stomana - Pernik increased its export for Italy over the first months of this year. While over the last year for this country was realized export of 3 000 - 4 000 t, at the moment there are being sold 3000 t steel per month. The company is the biggest buyer of scraps from ferrous metals in Bulgaria and processes about 40 000 - 50 000 t scrap per month. The factory has been in procedure of insolvency since 2000 and the metallurgic production is rented by Eurometal Ltd. The debts of Stomana are BGN 180 953 201. The Greek group Viohalko takes interest in the company.
Source: Dnevnik (18.04.2001)

The final restructure of Stomana may finish earlier than the expected in the reconstruction plan 5-year deadline, declared the Deputy Prime Minister Mr. Petar Zhotev. The reconstruction programme of the company will go on when Bulgargas withdrew its claim for declaration of Stomana in insolvency. The total amount of the debts of the company amount to DEM 300 million and the evaluation of the assets exceeds DEM 40 million. For the first quarter of 2001 the profit realized by the detached part Stomanodobiv is in amount of BGN 1.2 million. Buyers of 13 detached parts from the structure of Stomana were selected.
Source: Standart (28.04.2001)

The detached part Steel extraction in Stomana - Pernik reported a profit of BGN 1.2 million for the first quarter of the year against BGN 800 000 for the whole 2000. Eurometal is a lodger of Steel extraction. The Management of the company offered an introduction of lower prices of the electricity over the rest days.
Source: Capital (07.05.2001)

Eurometal JSC and the biggest Greek company for manufacture of profile steel Sidenor that is a part of Viohalco holding, dealed the participation of the Greek company in the shareholders' equity of Stomana industry JSC. Stomana industry is the branch of Eurometal in Pernik and is expected the company to acquire the major assets of the state-owned company for production of steel products Stomana-Pernik after finishing the necessary legal procedures. Stomana industry JSC is in process of evaluation of investment programme for modernization of the production capacities for increasing its productivity and competitive power.
Source: Pari (10.05.2001)

The Greek metallurgic holding Viohalko that is an owner of the plants Sofia med and Stilmed will buy a part from Stomana, Pernik. 25 per cent from the capital of Stomana - Pernik were privatized over the first wave of the mass privatization and the rest 75 per cent are still property of the State. Viohalko will finance the buying-up of the assets from the subsidiary of the present lodger Eurometal - Stomana industry JSC. The negotiations between the two companies are still finished. It was also signed a preliminary agreement and is expected Stomana industry to become the owner of the plant by the end of the month. it is only known that the initial investments will be about EUR 100 million.
Source: Standart (14.05.2001)

The new warehouse base of Stilmet JSC in the western industrial zone of Varna was officially opened yesterday. The Trade Director of the company Mr. Anton Petrov specified that in it were invested BGN 1 million and another BGN 600 000 circulation funds. It is envisaged the base to service the whole North-eastern Bulgaria.
Source: Black sea (16.05.2001)

The Austrian chain Magic life club that is a part of the German consortium TUI group is going to rent the hotel complex Dujni. The reconstructed and renewed hotel complexes Pelikan, Marina, Holiday and Village that are hired by the Austrian chain for 6 years are united in Bulgarian club Magic life. The President of the club Mr. Jame Keneigh declared that the amount for the rent is quite high but he hoped the Bulgarian club to become one of the most wanted. Over this season are expected in the resort about 15 000 tourists from Austria, Germany and Bulgaria and the intentions of Magic life are the season to be prolonged by October.
Source: Dnevnik (21.05.2001)

The representation of the Greek group Viohalko for Bulgaria announced that their company Teprometal SP Ltd. won an open-bid tender for one of the work-shops of Stomana - Pernik. The Greek company will also buy the rest of the company but in partnership with Eurometal. The deal for Stomana will be finalized within 10 days, said Mr. Anton Petrov who is Executive Director of Stilmet JSC and representative of Viohalko for Bulgaria. The price at which the buyer won the work-shop is BGN 7.2 million.
Source: Dnevnik (28.05.2001)

The negotiations between Stomana industry and the Greek company Viohalko for the merge with the metallurgic plant in Solun Sidenor are about to finish, announced the President of the company Mr. Ludmil Stojkov. The contract that will be signed after the elections envisages a rise in the capital of the company two times up to USD 28-30 million and up to USD 50 million in the end of the year. The freash funds will be invested in the main manufacture for renew of the steel extraction. It is expected as of the beginning of July the salary in the company to be increased with 10 to 18 per cent.
Source: BTA (13.06.2001)

Stomana industry became owner of 50 per cent of the assets of Stomana-Pernik, was reported from the Ministry of Economy. Stomana industry is 100 per cent property of Eurometal Ltd-Pernik. The transfer of rented assets from Stomana in Stomana industry is a part of the reconstruction programme in which is said that the assets will be rented with a next clause for buying out. Stomana has debts of USD 80 million. The planned investments in Stomana will be between USD 60 and 100 million.
Source: Pari (18.06.2001)

The Greek Viohalko invested EUR 70 million in the reconstruction and renew of the Plant for processing of non-ferrous metals - Iskar station. In the spring of 2000 the company bought the plant through the registered in Bulgaria Sofiamed JSC.
Source: Standart (22.06.2001)

The Greek company Sidenor that is a part of the concern Vihalko took officially the management of Stomana-Pernik when bought 56.25 per cent of the assets of the company. The company will invest USD 70 million for realization of the investment programme and for payment of the envisaged obligations in the reconstruction.
Source: Struma - Blagoevgrad (03.07.2001)

According to the report of the expert- accountant Hristina Vucheva Stomana JSC finishes the year with a loss of BGN 46 713 000. The procedure for bankrupt could not be accomplished as the plan for strengthening is finished as one of the creditors -Bulgargas stopped it. The company has a negative value of the own capital in size of BGN 46 713 000. Compared to 1999 there is a slight improvement of the financial state of Stomana, reported the expert-accountant. Valentin Bakalov Executive director of the Stomana explained that the plan for strengthening is based on a sum BGN 42 700 000 as minimum that Stomana has to receive from the sale of the separat5ed 56 objects.
Source: Pari (08.08.2001)

BGN 40 million are necessary for the payment of the pensions during July in Pernik region, announced the Director of the Regional administration Social services in Pernik Mr. Stanimir Stojanov. However only 46 per cent of this amount was gathered on State Public Insurance account. Because of the many mine and metallurgic workers who live in Pernik region, the average pension there is the highest for the State - BGN 106.50.
Source: Pari (29.08.2001)

18 per cent of the employees of Stomana Industry - Pernik will be discharged. About 429 people have to be dismissed, but there are free working places so the exact number of discharged will be about 310 people. After the discharges about 2000 people will work in the plant. The salaries will be increased with about 20 per cent. The new owner of the company is the Greek Vio Halko.
Source: Dnevnik (10.09.2001)

A debt of USD 5 million of Stomana was paid. This is a significant part of the total debt which is USD 13.5 million. In accordance with the reconstruction program of the plant the debts have to be paid to the creditors in term of five years, but the management of Stomana industry plans to reduce this term to 1-2 years.
Source: Standart (17.09.2001)

Ladimex holding bought the resort in Rudartzi for BGN 565 000 that includes open and closed swimming pools, hotel-restaurant, tennis courts and other sport equipments. The purchase was executed on the initial auction price - BGN 565 000 because there were not other candidates. Ladimex holding is the owner of the southern Black sea resort Djuni and is shareholder in Stomana - Pernik.
Source: Standart (23.10.2001)

The price of the products of Stomana has fallen with 15 per cent as compared to their level in the beginning of the year. The reason for the fall is the stagnation on the international market. The company in Pernik produces about 40 000 tons of steel monthly. The revival in the steel markets is expected during March next year.
Source: BTA (09.11.2001)

The Executive Director of Stomana JSC Mr. Valentin Bakalov announced that the compensations of the workers and employees who were dismissed were paid with the exception of the people who were dismissed during May and June 2000. Stomana JSC will pay 100 per cent of the of the holidays of all dismissed workers. The total amount of the paid compensations is about BGN 6 million which is nearly 60 per cent of the debts of Stomana to the employees in accordance to the reconstruction programme accepted by Pernik District Court.
Source: Pari (27.11.2001)

1500 workers from Stomana industry signed under a request for payment of the unpaid salaries and holidays. Over BGN 10 million have come in Stomana from sale of the major funds since the beginning of the year until now, declared the syndical leader. BGN 5 577 688 are paid on the expenses for the insolvency. From them BGN 493 762 are for holidays. According to the reconstruction plan the funds have to be paid for a period of 5 years, as of May 17, 2001.
Source: BTA (29.11.2001)

The Greek company Vio Halko is negotiating with Stomana for purchase of 350 decares ground and 6 non-industrial buildings, announced the Executive Director of the metallurgic company Mr. Valentine Bakalov. The preliminary price of the deal is BGN 1 660 000. The Greek investors want to make a big repair base on the territory of Stomana that will service their plants in Bulgaria and Greece, situated around Solun. This summer Vio Halko bought 17 work-shops from Pernik-based enterprise.
Source: BTA (13.12.2001)

Stomana - Pernik most probably will be one of the shareholders in a Japanese plant for processing of old automobiles in Lom. The construction of the enterprise has to start in 2003 and for it are necessary USD 200 million. That's why Japanese investors and the Government will look together for the future shareholders in the company.
Source: Standart (19.12.2001)