site.btaTerem Holding EAD Executive Director Asks Targovishte Branch CEO to Resign

TEREM Holding EAD Executive Director Kalin Dimitrov has asked the manager of the Targovishte branch, Nikolai Karaivanov, to resign. This transpired during a protest by workers at TEREM Khan Krum - Targovishte.

Nearly 150 employees of the enterprise in Targovishte protested again at a nearby roundabout over unpaid wages. Traffic on the main road between Sofia and Varna remained open, however, as protesters insisted that they do not want to make it harder for other people but only sought to press their demands.

Workers here have not received salaries for January and February 2025.

They also demand more clarity about the future of the enterprise.

"The protest is not political. We receive the minimum wage once for every two months. Some are striking for a salary increase, while we are striking just to get them," said Krasimir Stoichkov, Confederation of Bulgarian Industrialists and Workers Chair at the enterprise.

Speaking to the media, Dimitrov did not deny that salaries were not being paid. He commented that the company is having difficulties related to the decrease in demand for the repair of Soviet equipment and the outdated facilities at the plant, which does not allow them to be competitive in other markets. He also pointed out that the Targovishte plant has been losing money since 2001 and the losses have so far been covered by loans from the parent company.

Dimitrov stressed that the holding has no legal grounds to interfere in the management of the enterprise. He explained that the company receives orders, but they are not enough to keep the entire staff busy. "The management of the plant must be optimized. Various solutions will be sought in the shortest possible time. This is a commercial company, it must earn its salaries. Someone will be sought to take Karaivanov's place and solve the problems," Dimitrov said, adding that it must be clarified why the enterprise is not competitive.

Nikolay Dyakov, Regional Coordinator of the Confederation of Bulgarian Trade Unions in Targovishte, said that the only option for the Targovishte plant to maintain its existence and continue operating is a complete change. This would involve introducing new technological schemes related to the rearmament of the Bulgarian army, as well as adapting the enterprise to the new rearmament programme of the European Union.

The workers' protest actions will continue daily, except Saturdays and Sundays, without blocking traffic on the main road.