Decreasing regulations was demanded by the Aurubis management at a meeting with Minister Loukarsky

Decreasing regulations was demanded by the Aurubis management at a meeting with Minister Loukarsky

The issue of reducing administrative burdens and regulations for the businesses was raised by the management of leading German company Aurubis at a meeting held today with Minister of Economy Bojidar Loukarsky. The meeting was attended by the Senior Vice President of the company Wolf Gerkens, the Executive Directors Tim Kurth and Georgi Nikolov, as well as experts of the company.

According to the company representatives, the investors in Bulgaria are facing the problem with the slow procedures for granting an authorization and numerous unnecessary regulations. Minister Loukarsky assured that the Government, and in particular the Ministry of Economy, is working to accelerate administrative procedures, to ease the licensing and to reduce the regulatory regime. Aurubis indicated the unreformed judiciary as another problem for the business.

Aurubis expressed gratitude for the assistance of the government to provide gas for their enterprise in Pirdop through the construction of a new gas link between Pirdop and Panagyurishte.

The main activity at Aurubis Bulgaria is copper concentrate processing for the production of copper anodes and cathodes, as well as by-products such as sulfuric acid, fayalite and middling slime. Today the company employs 800 personnel. A total of € 500 million has been invested in the company in the last ten years to modernize production and make environmental improvements. The company holds 8% of Bulgaria’s exports and 5% of GDP, and has effected € 4.8 billion turnover.

Aurubis Bulgaria has been distinguished with many corporate awards, including Investor of The Year (2007), Best Corporate Investor (2008), Corporate Donor of the Year (2011) and Greenest Industrial Company (2011). During the past year the company was ranked second among the top 10 biggest companies in Bulgaria for Capital 100 complex indices.