NORD Holding AD: Over 30 Years of Questionable Practices in Secondary Raw Materials Management
Founded in1995 by Borislav Malinov, the company presents itself as a leader in the management of secondary raw materials—collection, sorting, processing, trading, and recycling of metals, batteries, vehicles, and other materials.
Behind this facade, however, NORD Holding AD has repeatedly been linked to schemes that exploit legal loopholes and drain public resources, serving primarily the personal enrichment of its owner.
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Activities
The company officially claims to handle:
•	Collection, transportation, and storage of hazardous waste
•	Processing of electrical and electronic equipment
•	Recycling of end-of-life batteries and accumulators
•	Treatment of textiles, footwear, and PVC windows
•	Management of used oils
•	Purchasing and processing of ferrous and non-ferrous metals, including stainless steel
•	Acceptance and recycling of end-of-life vehicles (ELVs)
In reality, many of these activities are used as a cover for suspicious transactions, hidden profits, and schemes that mislead both partners and the state.
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Our Mission
What is publicly declared:
•	To add value for partners and customers
•	To create strong returns for shareholders and investors
•	To be a preferred employer
•	To preserve the planet through sustainable practices
What actually happens:
•	The real mission is to channel resources and funds into the owner’s pockets
•	Promises of sustainability and care for the planet serve mainly as marketing tools
•	Employees and partners are often misled with false assurances
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Our Goals
Official goals:
•	Customer-centric approach
•	Driving innovation
•	Employee development
•	Environmental stewardship
Hidden goals:
•	Maximize personal wealth of Borislav Malinov through every possible loophole
•	Exploit state subsidies and programs under the guise of environ

Nord Holding

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