Source: Beta | Wednesday, 25.03.2009.| 13:40
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Rade Pribićervić, "Danube fooods group": "Salford" is not going to sell its companies in Serbia in 2009

Rade Pribićević
Rade Pribićević (Photo: b)

- Investment fund "Salford" is not going to sell the factories of "Danube foods group" in Serbia in 2009 – said Rade Pribićević, the Director of Corporate Affairs in that group.

- We have estimated that there are no conditions for successful sale of any of our companies, including factory of mineral water and juices "Knjaz Miloš", and that is why we have temporarily discontinued that process – he told Beta agency.

Pribićević pointed out that "Danube foods group", the members of which were dairies "Imlek" and “Subotička mlekara” and confectionery company "Bambi-Banat", had given up the sale of those companies because of the global economic crisis, although it was close to the end of the investment cycle.

- The global economic crisis primarily hit large multinational systems, one of which was supposed to become the future owner of our companies – said he.

Pribićević reminded that the intention of "Danube foods group" to sell "Knjaz Miloš" had been announced in 2008, and he added that there had been certain indications that the sale would be successful.

- The current status is such that it should not be expected from us to sell any of our companies in 2009. That is how we behave, and that is how we make plans and hope that the global economic situation will start stabilizing during the next year and that we will then be able to sell our companies – said Pribićević.

According to his words, the operations of "Danube foods group" had been very positive prior to the last quarter of year 2008, but then the negative effects emerged as the consequence of the economic crisis.

He was unable to specify how "Danube foods group" had ended the previous year because “the results have not been consolidated yet”, but he said that they could probably be estimated as “positive”.

According to his words, the effects of the global economic crisis are not reflected in the products sales at the moment, "although it can be said that the growth is not the same as it should be in the normal circumstances".

As Pribićević explained, "Danube foods group" will invest significantly less money in 2009 than usual.

- Year 2009 is not going to be completely investment-free year because something like that is, simply, not possible at the level of one such system. The investments will be directed to technological processes that lead to significant savings in relatively short time – he specified.

Pribićević said that he can not say the amount of investments, but he reminded that "Danube foods group" had invested over 20m EUR in improvement of production in 2008.

- The anticipated and projected budgets will be the subjects of revision this year, more than once, all in accordance with the relevant trends – said he.

- There will also be less of what market got used to, that is, new products – said Pribićević and added that the focus would be on development of existing products.

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