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.
Manufacturing Manufacture Of Rubber And Plastic Products And Other Non-Metallic Mineral Products Manufacture Of Rubber And Plastic Products 22 - Manufacture of rubber and plastic products
130 jobs Number of planned job creations
Announcement Date
8 August 2005
Employment effect (start)
1 August 2005
Foreseen end date
Description
Vidahim has started production of tyres after a 10 years interruption, announced the president of the directors board Mrs. Sevdalina Dimitrova. Early August 2005 probations have started; some sharp tuning were made and a test series of 2,000 tyres were produced. ‘These tyres will not be for sale, they have to be examined first and after getting an ISO certificate, they will be marketed’, Mrs Dimitrova said. Vidahim bankrupted in 1995 and after series of unsuccessful privatisation attempts the company was sold to Bulgarian Pristisgroup- Vodno stroitelstvo in 2002. About BGN 4.5 million have been invested in the tyres production rehabilitation. For the whole factory the investment exceeds BGN 15 million and some 700 people were hired, which makes Vidahim the biggest employer in the Vidin region.
Sources
8 August 2005: Dnevnik
Citation
Eurofound (2005), Vidahim, Business expansion in Bulgaria, factsheet number 62087, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62087.
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