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.
The development of two new mines is going to start in September 2005, announced Alexander Prokopiev, executive director of Kaolin JSC. At least 140 new working places will be created – 70 of which will directly work in the mines and 70 employees will complete auxiliary work. The increased demand for raw materials in the glass and ceramic industry has resulted in a development of the Kaolin production.
Management has concluded negotiations with the French company Saint Gobain, which will complete in 2006 a sheet glasses factory for the automotive industry in Calarash – Romania. Kaolin JSC will deliver 150,000 tons of raw materials per year to the French company. In the last few years, Kaolin JSC has increased its productivity by more than 30%, which accordingly brings more money to the state from concession taxes.
At the same time, Kaolin is building a new factory for quartz sand near Devnia, Varna region, where some 60 people will be engaged. The factory is planning to start working at the end of 2005 and its production is to be used in factories for bottle and container glass manufacturing in Bulgaria and abroad.
Eurofound (2005), Kaolin JSC, Business expansion in Bulgaria, factsheet number 62149, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/62149.
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