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Talks Start with Smart Group over Kremikovtzi

Date: 15.11.2008

The management of Bulgaria's troubled steel mill Kremikovtzi have started Tuesday talks with the Ukrainian Smart Group company over the eventual acquisition of the insolvent plant, trade union officials said.

The leader of the KNSB trade union organization in the plant, Vasil Yanachkov, also said that all delayed salaries will be paid to workers until the end of the day.

Last week Mr Yanachkov told protesting workers that Smart Group are ready to start delivering row materials to Kremikovtzi this week.

Smart Group is the owner of another Bulgarian steel-maker - ProMet, located close to the Black Sea city of Burgas. Through a merger in 2007 it was taken over by Metinvest Holding, which is owned by Ukraine's richest man, Rinat Akhmetov.

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