The plant of bankrupt Bulgarian glass maker Diamant will be sold to developer Via Properties in a deal worth BGL 8.13 million (USD 5.5 million/EUR 4.1 million), one of the official bankruptcy administ…
The plant of bankrupt Bulgarian glass maker Diamant will be sold to developer Via Properties in a deal worth BGL 8.13 million (USD 5.5 million/EUR 4.1 million), one of the official bankruptcy administrators said on 28 May 2007. “The deal will be complete in a matter of days”, Boyan Minev said from the northeastern town of Razgrad, where the plant is located. The plant was previously valued at BGL 10.3 million. The buyer will acquire the land, buildings and equipment from Diamant, once Bulgaria“s largest glassworks. Debts forced Diamant to cease operations in 2001. In late 2005 it was estimated that the glassmaker owed BGL 9.3 million to the state-owned gas firm Bulgargaz. Diamant went into receivership in 2003. Diamant had three production units and manufactured sheet, reinforced, ornamental and water glass, mirrors, household and fine porcelain.