State-owned enterprise has the best monthly performance in June and July for the last five years
We have taken all necessary actions to fulfil our commitments. The management of LB Bulgaricum EAD increased by 10%, retroactive to 1 May, the salaries of the employees in the production base in Vidin. There will be a further increase this month and the aim is to reach the promised additional 30% salary increase by the end of the year. This was announced by the Minister of Economy and Industry Dr. Petko Nikolov in Vidin during a meeting with employees and management of the state-owned dairy company.
“LB Bulgaricum has the best monthly performance in June and July for the last five years,” he stressed, explaining that this will allow the employees’ salaries to continue to be raised as promised.
“The development and continuous improvement of the production base of LB Bulgaricum is a top priority for the management of the company and the Ministry of Economy and Industry as its principal. Our goal is also to increase the market share of the company, which will lead to an increase in production in Vidin,” assured Minister Nikolov. He was adamant that there are no plans to close the company’s production base in the city and there has never been an idea to build a new base in Sofia. The Minister of Economy stressed that only the establishment of a joint research laboratory with Meiji is envisaged in the capital, upon finalization of the negotiation process between LB Bulgaricum EAD and Meiji Co. Ltd. (Meiji) to achieve the objectives of the strategic partnership project between the two parties.
Dr. Petko Nikolov also announced that from this month the modernization of the production base of LB Bulgaricum EAD in Vidin has started. He pointed out that it will be developed and improved in stages, initially the refrigerated premises concerning the warehouses will be renovated, the alleys leading to the workshops and the parking lot in front of the building will be repaved. “Investment is planned to smoothly replace the outdated equipment with new production machinery for the production of fresh milk, cow butter and processed cheese, he added. According to the Minister of Economic Affairs, action will be taken to implement measures to improve the energy efficiency of the buildings in order to reduce the cost of electricity and to switch the working process through energy from photovoltaic systems. For this purpose, the company will make a project and apply for funding of up to 50% with funds from the Strategic Plan.
The meeting was also attended by Zhivko Zhivkov, the executive director of the state-owned company, who stressed that the management is working to create a good working environment. For their part, the employees and trade union representatives at the enterprise said they were satisfied as the commitments made by the management and the Minister were being implemented.
During the meeting, the business programme of LB Bulgaricum EAD for the period 2024-2026, which was developed and approved, was also discussed It outlines the full automation and modernization of production processes as a strategic goal, as well as the implementation of a qualitatively new system of internal company quality control.