Source: Novosti | Thursday, 29.10.2009.| 13:55
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Very fragile luck - fourth tender announced for sale of Pančevo-based glassworks

The Privatization Agency has announced the fourth tender for sale of the Pančevo glassworks. This factory, which used to be the only manufacturer of flat glass in the Balkan, can not find the buyer for years, and the new deadline for submission of bids is December 23rd.

Previous three tenders and two auctions were unsuccessful, and the only tender that attracted interested potential buyers was announced one year ago. Although they offered 1m EUR for capital and 30m EUR for investments, Greek company "Yioula Glassworks" gave up the takeover because of the large debts of the Pančevo factory.

After the negotiations with Greeks ended in disaster, it was said that one Austrian, one Italian and two Russian, companies had expressed interest in the glassworks. The factory has about 400 workers and occupies the surface of 150,000 square meters. The company's capital has been estimated at about 17m EUR, while the debts amount to 6m EUR.

All companies that have been processing or producing glass over the last three years and registered minimum 4m EUR worth of incomes in 2008 can participate in the tender. The fee for documentation is 8,000 EUR, while the deposit amounts to 50,000 EUR.

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