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 third electrical arc furnace with electronic control was put into operation in factory Madara, announced executive director Emil Maslarski. The investment made amounts to €60,000. The new furnace will increase the annual production capacity up to 2,500 tons castings per year. The company is preparing to perform an annual contract for the Russian giant Kamaz OAO for €12 million. Madara needs some extra work-force to perform the job within 25 professions such as technologists, electricians, arc welders, blacksmiths, grinding-machine operators, milling machine operators, turners, fitters etc. 'The production is specific and it is quite difficult to find qualified personnel for the job', said Mr Maslarski. 'From 300 candidates up to now only 100 were approved and the company continues the recruitment', he added. The factory currently has 700 workers and is providing good salaries, free food and transport and training courses to improve the qualification of the staff, said the executive director. Over 90% of the production are exported in Russia, but spare parts and details are exported also in Serbia, Montenegro and Italy. The company is profiled in producing heavy-duty trucks, front and back drive axles for heavy – duty trucks, busses, trolleys.
Eurofound (2006), Madara JSC, Business expansion in Bulgaria, factsheet number 62915, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/62915.
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