Kauchuk AD (Каучук АД) (Bulgaria)

Kauchuk, which was established in 1930, is one of the biggest producers of rubber goods in Bulgaria. The plant, based in the southern town of Pazardzhik, was completely renovated in 1981. The company's main products are conveyor belts and rubber hoses. The annual production capacity is 600,000 meters conveyor belts, 5 mln meters rubber hoses and 1,000 tonnes of reclaimed rubber. Exports account for around 60% of the annual sales, main markets are Italy, Germany, the Czech Republic, The United Kingdom, Spain, Hungary, Poland.
In September 1999, Bulgaria's Privatisation Agency sold 75% of the firm to its management buyout team Kauchuk 97 for USD 10.5 million. The buyer pledged to invest USD 2.5 million in the company over the next three years. A 3.95% stake in Kauchuk was offered for sale against vouchers under the government's mass privatisation programme. Of the remaining 21.05% of the firm, 19.2% was offered to employees at a preferential price and 1.85% was kept for covering property claims by former pre-communist owners. In June 2006, local firm Chimimport - controlled by Varna-based industrial group TIM, purchased a 37.5% stake in Kauchuk on the local stock exchange for EUR 1.28 million.