site.btaTEREM Targovishte Workers "Need to Turn to Parent Company," Defence Ministry Cannot Help Financially

Visiting the Targovishte branch of the TEREM military repair works on Friday, Defence Minister Atanas Zapryanov said the resources available at the plant in the northeastern town are not enough to pay overdue wages to its workers, and therefore the parent company, TEREM Holding EAD, should step in. The workers cannot rely on money from the central government's military budget because of the legal status of the plant, which operates under the Public Enterprises Act, Zapryanov explained, speaking to journalists and employees.

The Defence Minister visited TEREM Khan Krum – Targovishte to familiarize himself in detail with the condition of the enterprise and its financial and business problems. The aim is to provide complete and accurate information to the National Assembly. Zapryanov was accompanied by his deputy Adelina Nikolova and TEREM Holding EAD Executive Director Kalin Dimitrov.

On Thursday, nearly 150 employees of the enterprise in Targovishte held a protest. They have not received wages for January and February. It transpired that Kalin Dimitrov had asked the manager of the Targovishte branch of TEREM, Nikolai Karaivanov, to resign. According to Dimitrov, the company is having difficulties related to the decrease in demand for the repair of Soviet-era equipment and the outdated facilities at the plant, which do not allow it to be competitive in other markets.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 offset by loans from the parent company.