Defense Ministry sold controlling interest of third factory „Terem“
Year and a half after the decision of the military department to sell controlling interest in all eight of the factory complex voennoremontniya „Terem“ is the third person selling the shares. Rousse company Dunarit „buy 74 percent of“ Terem – Tsar Samuil „in Kostenets. „Dunarit also deals with the manufacture and repair of products with military uses. The contract for the sale was initialed at the end of May with the authorization of the Minister of Defense. Currently expected by the office Commission for Protection of Competition (the Competition Protection Commission) to allow the transaction to finalize. That balance of „Terem“ so far is three sold controlling interest, a sale and blocked four companies, who expect a deal.
Control the sale of a package of „Terem – Tsar Samuel is part of the restructuring of the military Holding Terem. It was early last year when sales were announced, and parts of the eight companies in the group (see box). „The restructuring of the military complex run successfully for the most part has been completed, only a few parts for sale,“ explained Harry Paul, by the „Restructuring and public-private partnerships“ in Terem. At the same time have sold controlling interest in two companies – in Plovdiv and Bozhurishte. Ministry of Defense announced that it has a complex about exercise lately, but the number completing editorial pointed not what you mean.
Holding Terem is prohibitive in the list of the Law on Privatization and Control and it can be changed only by the National Assembly. „A few years ago was not so, then the Privatization Agency tried unsuccessfully to sell the company but was not selected the correct model for privatization,“ explained the chairman of AP Todor Nikolov. Currently all the privatization of the company depends on the decision of the Ministry of Defense. Consultant in the sale is KPMG – Bulgaria. Besides „Terem – Tsar Samuil“ companies have been sold Vladimir Zaimov – Bozhurishte and Plovdiv Terem – George Benkovski.
According to experts, despite obsolescence equipment Terem – Samuel King has a great prospect for development. The company is utilization of ammunition. „Sell parts of the already disposed of and disconnected components can be very lucrative business, experts explained.
In voennoremontniya holding around 2000 people working on details of the trade unions, of which 70 are employed in Terem – Tsar Samuil. For cuts in the company is currently unable to speak, because most people leave their own businesses because of low pay, „explained Syndication leader on defense KT Support Todor Vodenov. In his words, the average wage in the factory is 450 euro „There are qualified staff who receive a higher payment, but there are those who receive low, specify Syndicator. From CITUB explained that before the end of the parliamentary elections can not speak of „Terem“ because there is a movement started and the problem will be dealt with yet.
What is sold
Enterprises for privatization were divided into two groups – strategic for the company, which sold 66 percent, and nestrategicheski package offered by 74 percent. In strategic enter plant KRZ naval arsenal, Terem – George Benkovski, Terem – Khan Krum and Terem – Ivaylo. At the end of last year by the Prime Minister was the military blocked the sale of the factory ship of the company, which until it was most interested. The group of companies includes nestrategicheskite „Terem – aviator, Terem – Ovech, Terem – Tsar Samuil and Terem – Gen.. Vladimir Zaimov.
Finance