"Victoria Group" bought "Zorka-mineralna đubriva" - production to commence within next three months

People in Šabac-based factory "Zorka-mineral fertilizers", which has been bought by Novi Sad-based company "Victoria Group", announced that they expected production to commence within the next three months.

The CEO of the factory, Ilija Nenadović, said that the beginning of production of artificial fertilizers would lead to increase in number of workers.

- It is the fastest and the easiest for us to start production of CaH2PO4, while production of NPK fertilizers require much more complex process and larger investments - said Nenadović.

According to his expectations, commencement of production will require more workers than current 95, which is the number of employees who stayed in the company after four rounds of social programme.

"Victoria Group" bought certain share of property of Šabac-based fertilizer factory in restructuring at last week's auction for 3.42m EUR.

That money will be spent on payment of debts to creditors, the largest of which is "Farmakom MB".

That concern, which rented the factory in the period 2003-2006, will be paid over 1m EUR.

"Victoria Group" did not manage to buy "Kontakt 2", a part of "Zorka-mineral fertilizers", because it is under mortgage.

Indian concern "Indo-cink smelters", which owns the mortgage, is interested in takeover of that factory.