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.
Management of Kamenitza JSC, owned by the Belgian InBev, is closing its factory in Pleven and relocating the production to its factories in Plovdiv and Haskovo in Southern Bulgaria. Late October 2005, 98 of its 156 members staff were notified on their dismissals, the remaining employees are still to continue working for a limited time in the malt workshop, distribution and store department. The mayor of Pleven Mr Naiden Zelenogorski announced that local investors are going to finance the construction of new brewery, which will be started in 2006 at the spot of the Kamenitza - Pleven. The mayor has warned the management of the closing factory, that their decision is wrong and that if they will want to come back, but their place will not be vacant. ‘I believe most of the discharged personnel will be able to work in the new brewery’, said Mr Zelenogorski. At the same time the municipality hopes that the management of Kamenitza - Pleven will fulfil the undertaken engagements it has with the municipality. The restructuring of the InBev production in Bulgaria will cost €2 million, according to experts, quoted by the Dow Jones agency.
InBev is active in Bulgaria since 1995 and has invested about €130 million. It owns the biggest share of 31.2 % in the Bulgarian brewery market, followed by Zagorka with 29.8%. In May 2005 Kamenitza JSC entered the Macedonian market, through the sales of its Kamenitza beer. Other beer brands produced by InBev in Bulgaria are Stella Artois, Beck's, Staropramen, Astika, Burgasko, Pleven and Slavena.
Eurofound (2005), Kamenitza JSC - Pleven, Relocation in Bulgaria, factsheet number 62481, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/62481.
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