Greek company "Neochimiki L.V. Lavrentiadis" became owner of IHP "Prahovo" - contract signed in premises of Privatization Agency

Source: eKapija Thursday, 01.01.1970. 12:31
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Greek company "Neochimiki L.V. Lavrentiadis" has officially become the owner of IHP "Prahovo". The sales contract was signed on Friday (October 26, 2007) in the PRivatization Agency, and Greeks became owners of IHP "Prahovo" and four dependent companies - "Prahovo-Đubriva", "Prahovo-Soli", "Prahovo-proizvodnja, remont, montaža opreme, rezervnih delova i energetski fluidi" and "Prahovo -prevoz, pretovar, skladištenje i pakovanje" for 5m EUR.

Greek company, which is also the owner of Oil Refinery "Beograd", will invest another 20m EUR in Holding within next two years and, as Stelios Kibaridis, representative of Greek company, announced, "Neochimiki" will start to realize its plans on Monday.

(Stelios Kibaridis)

- Our aim is to achieve the level of production that IHP "Prahovo" had when it was at its prime, at the beginning of the 1990's. We expect big support from both municipal administration and current management. We will most certainly ask them for advice on where it is best to place investment. The first two years will be dedicated to investments, then the focus will be on production growth, followed by significant creation of new jobs - Kibaridis explained.

According to the words of General Manager of IHP "Prahovo", Mladen Trišić, signing of this contract represents great event to both Holding and the region of Negotin.

- We've passed through very difficult period in the past 15 years. It is most important that we have enabled all capacities required for normal functioning two years ago. But, they are at the level of 10-20% in comparison with the 1990's. It is great deal that we've managed to solve problem with surplus manpower through three social programs of the Government of Serbia. In the 1990's, IHP "Prahovo" had 4,500 employees and it now employs only 632 workers. The fourth program will be offered by the new owner within next year and half. At least half of the employees will have to go and our aim is to hire another 200 new, young people.


Mayor of Negotin, Radmila Gerov, explained that everybody had been waiting for that privatization for long time.

- This is the most important privatization to our municipality. IHP was the carrier of development of not only Negotin, but also the whole Timok region. We honestly hope that this is the first big step in attracting of other foreign investors, which will solve problem of high unemployment rate - said Mrs. Gerov.

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