Source: Beta | Wednesday, 01.11.2017.| 15:11

New owner planning to produce Tatra and Avia trucks at IMK 14. oktobar facilities

Illustration (Photo: Don Pablo/
The new owner of IMK 14. oktobar might produce Tatra and Avia trucks at the facilities of the Krusevac factory, the company told Beta.

The new owner of the Krusevac company, SCMG 14. oktobar, operates as part of the Czechoslovak Group, which also owns companies Tatra and Avia.

Manager of Corporate and Regulatory Affairs at SCMG 14. oktobar, Aleksandra Jankovic, told Beta that the new owner planned to produce the said trucks at 14. oktobar as well.

– Serbia provides good business conditions, as it has agreements with the CEFTA countries and Russia. This means that the end product can be less expensive if produced in Serbia – Jankovic said.

The new owner, as she said, took over the contracts IMK 14. oktobar had in the arms industry, and its ambition is to make new, much bigger agreements in this field.

– It depends on the amount of jobs we contract whether we will repair the existing machines, the condition of which is bad, or start procuring new ones immediately. All this will then determine the dynamics of employment in the upcoming years – Jankovic said.

She confirmed that, with the purchase of the factory, the 129 employees hired during the bankruptcy had been taken in and would remain working, with an additional employment of a minimum of 150 people planned for the next few months.

The Czechoslovak Group has become owner of the majority of IMK 14. oktobar's real estate in the location in Krusevac, whereas the facilities in Brus and Razanj were not part of the arrangement.

The former giant, which used to employ 8,500 people during the “golden eighties”, and which has been in bankruptcy since early 2016, was sold only at the fifth attempt. The new owner offered RSD 485 million for IMK 14. oktobar, ten times less than its estimated value.

According to the information forwarded to Beta by the Bankruptcy Supervision Agency, the obligations of 14. oktobar towards secured creditors amount to RSD 4.4 billion. They were paid RSD 293 million (7.64%) from the sold property, whereas the remaining amount will be paid to them as third-grade creditors.

The obligations towards the employees belonging to the first payment grade, which amount to around RSD 210 million, were paid through the Solidarity Fund, whereas the employees claim around RSD 1 billion more as creditors of the third payment grade.
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