Bulgaria's Kremikovtzi launches production facilities stoppage

By Caroline Salls

Pittsburgh, Oct. 28 - Kremikovtzi AD has begun the step-by-step stoppage of its numbers one and three blast furnaces and its coke battery operations to avoid an emergency situation in light of the company's lack of raw materials, according to a news release.

The company said operative teams were appointed to prepare and supervise the stoppage process for these units in the metallurgical plant in compliance with approved action plans.

According to the release, Kremikovtzi received the raw materials needed for the safe stoppage of the production facilities, and the plant has enough power to ensure the normal flow of the stoppage process.

As previously reported, Kremikovtzi was declared insolvent by the Sofia City Court in August, and the court began bankruptcy proceedings for the company then.

Kremikovtzi is Bulgaria's largest steel company.

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