Crystal concentrates on exports

Troubled by tight demand on the domestic market, Bulgarian state-owned glassmaker Crystal in Pernik, western Bulgaria, is seeking opportunities for exports to neighbouring Serbia, executive director…

Troubled by tight demand on the domestic market, Bulgarian state-owned glassmaker Crystal in Pernik, western Bulgaria, is seeking opportunities for exports to neighbouring Serbia, executive director Dimitar Dimitrov said at the end of July 2002. Lack of brand recognition had doomed previous attempts to enter the markets of other neighbouring countries to failure. Crystal“s annual production exceeds 20,000 sq. m. generating a turnover of between BGL 700,000 and BGL 800,000. The best money-making division of the company is the processing of imported flat glass for the needs of the car industry. Output had to be downsized after 1998 when Crystal ceased to work with power-intensive local inputs after failing to settle a BGL 5.0 million debt towards natural gas supplier Bulgargaz. Crystal“s loss for 2001 amounted to only BGL 1,000, the first post-1998 loss the company has reported. The two attempts to privatize the glassmaker, in 1998 and in 1999, failed after no investors came forth. The company has a capital of BGL 123,000, divided into as many shares with one lev par value.