Sofia--Vidachim AD, Bulgaria's sole tyre maker has reportedly returned to profit for the first nine months of 2004. Vidachim is currently owned by the Pristis Group, which bought it from the government for BGN 1 in 2002, with a promise to invest BGN 10 million (â‚¬5.1 million) in the plant before 2005.
The company made BGN 339 000 (â‚¬173 000) profits on sales of BGN16,5 million (â‚¬8.45 million) for the period. This compares to a loss of BGN 2.44 million on revenues of BGN 16.66 million a year earlier. The company said a debt restructuring had reduced interest payments by over BGN 3 million.
This is an external link and should open in a new window. ERJ is not responsible for the content of external sites.
BNN (Bulgaria) story
Pari (Bulgaria) story on debt restructuring
Development Gateway (Bulgaria) story on ownership
Profile of Vidachim