BALKANCAR WOES CONTINUE

News Story
- 18 Sep 2003 ( #125 ) - SOFIA, Bulgaria
1 min read
Embattled Balkancar Holding EAD, once the world's largest per-capita forklift manufacturer, made just 320 forklifts from January to July.

According to the Bulgarian News Digest, the company's output was as high as 4,316 forklift trucks in 1994. Production dropped to 522 in 2000 and 400 in 2001.

After several failed privatisation attempts, Balkancar was declared insolvent in September 2002 with debts totalling 400,000 levs (USD99.7 million). The company's largest creditors are Roseximbank, to which it owes 111.7 million levs (USD61.8 million), Yorset Holding, 31 million levs (USD17.2 million) and Biochim Bank, 1.2 million levs (USD700,000).

In the late 1980s, the state-owned company made Bulgaria the world's number one per capita producer of forklifts. Balkancar forklifts led the Eastern Europe and Comecon markets, and the company sold its products in Asia and Africa. Comecon was an economic organisation similar to the EU, linking the former USSR with Bulgaria, Czechoslovakia, Hungary, Poland, Romania, East Germany, Mongolia, Cuba, Vietnam, Albania and Yugoslavia. It was disbanded in June 1991. With EU approval in 1997, Balkancar forklifts were sold in England, Italy, Germany, Spain, Turkey, the Czech Republic and Croatia.
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Inside The News
As June comes to a close, the month when our sector recognises National Forklift Safety Day , the United Kingdom’s Association of Industrial Truck Trainers (AITT) has issued a timely reminder of the need to ensure any staff training is fully accredited... Continue reading

PREMIUM business

Lift Tek Elecar
Global leader in the design and manufacture of masts, carriages, integral sideshifters & fork positioners.

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

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We’re excited to launch a major upgrade to the Forkliftaction forums, packed with new features and improvements. Here’s what’s new:

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  • New search & navigation - find what you need easier
  • Smart brand/model tagging across all forums
  • Top contributors recognised for their efforts!

 Head over to the forums to check it out!