Trade unions in favor of Galenika recapitalization

Representatives of Galenika's trade unions are in favor of the recapitalization of that pharmaceutical plant, saying that severance pays under a voluntary social program should be in excess of EUR 300 per year if that is how the problem of redundant workers is expected to be solved.

- Given that finding a strategic partner opens up an opportunity for any type of ownership transformation, we believe recapitalization to be the best solution - President of the Nezavisnost Galenika trade union Zoran Pantelic told Tanjug news angecy.

According to him, it would be wise for the state to sell, for example, a 30 percent stake in Galenika and invest that money in the recovery of the plant and the procurement of raw materials, equipment and licenses.

In a year or two, Galenika would get back on its feet, become a highly profitable asset of the state and be worth at least twice as much as it is worth now, whereas the problem of redundant workers could be solved with an appropriate voluntary social program, Pantelic assessed.