site.btaMinistry of Economy Aims to Improve Production Base of Dairy Company LB Bulgaricum

Bulgarian Economy and Industry Minister Petko Nikolov was on a working visit to the Vidin diary factory of LB Bulgaricum EAD on Tuesday. He said there that the efforts of the ministry and the management of LB Bulgaricum EAD are aimed at improving and modernizing the production base in Vidin. He emphasized that there are no plans to build another production facility, but added that in connection with the signing of a new contract with the Japanese company Meiji a new research laboratory will be built in Sofia.

He congratulated the company's employees on the production results they have achieved so far in 2024. "LB Bulgaricum has the best monthly results for June and July for the last five years", said the minister. A strong relationship between the employees and the management of the company is the guarantee for the positive development of the company, stressed Nikolov. "In May, at a meeting with the management and the unions, we made a commitment to raise wages by 10%, which we did it", he pointed out, adding that the next aim must be to increase wages by up to 20%, so that the total wage increase reaches 30%. 

"Our goal is also to make the sale of the manufactured products more profitable. This is the task of the management and the members of the management board", he said. For this reason, LB Bulgaricum has developed and approved a business programme for the period 2024-2026.

Nikolov was accompanied by the company's executive director Zhivko Zhivkov, who stated that the company has its own funds, and the intention is to implement part of the investments by applying for the various operational programmes of the European Union. "As long as I am the head, only Bulgarian milk will be used as a raw material", emphasised Zhivkov.