Minister Nikolov: From this month, the salaries of the employees will be increased again and the modernization of the "LB Bulgaricum" base in Vidin will start
The state-owned enterprise had its best monthly performance in June and July for the past five years
We have taken all the necessary actions to fulfill the commitments. The management of "LB Bulgaricum" EAD increased by 10%, retroactive to May 1, the salaries of the employees at the production base in Vidin. There will be another increase this month, with the goal being to reach the promised additional 30% increase in remuneration 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 the employees and management of the state milk processing company.
"LB Bulgaricum has had the best monthly figures in June and July for the last five years," he stressed, explaining that this would allow employees' salaries to continue to be increased as promised.
"The development and constant improvement of the production base of "LB Bulgaricum" is a leading priority for the management of the company and the Ministry of Economy and Industry, as its principal. Our goal is also to increase the company's market share, which will also lead to an increase in production in Vidin," assured Minister Nikolov. He was categorical that there is no plan to close the company's production base in the city and there was never an idea to build a new base on the territory of the city of Sofia. The Minister of Economy emphasized that only the creation of a joint scientific 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 goals of the strategic partnership project between the two countries.
Dr. Petko Nikolov also announced that the modernization of the production base of "LB Bulgaricum" EAD in Vidin will begin this month. He pointed out that it will be developed and improved in stages, and initially the cold rooms related to the warehouses will be repaired, the alleys leading to the workshops and the parking lot in front of the building will be repaved. "Investment is planned for the smooth replacement of outdated equipment with new production techniques for the production of fresh milk, cow's butter and processed cheeses, he added. According to the Minister of Economy, actions will be taken to implement measures to improve the energy efficiency of buildings, with the aim of reducing the costs of electricity and switching the work process to energy from photovoltaic systems. For this purpose, the company will make a project and apply for financing up to 50% with funds from the Strategic Plan.
The executive director of the state-owned company Zhivko Zhivkov also participated in the meeting, who emphasized that the management is working to create a good working environment. For their part, the employees and representatives of the trade union organizations in the enterprise stated that they are satisfied, since the commitments made by the management and the minister are being fulfilled.
During the meeting, the developed and approved business program of "LB Bulgaricum" EAD for the period 2024-2026 was discussed. In it, the complete automation and modernization of production processes, as well as the implementation of a qualitatively new system for internal company quality control.