Huge interest in Galenika

Galenika is ready for privatization and we expect that during the month we get the list of potential partners which applied to the public call of the Agency for Privatization.

- The Government will opt for the model and potential partner which offers the best terms - Novakovic said.

He thinks that for Galenika, the best solution would be to find the strategic partner and a model used for Air Serbia and NIS.

According to his words, the most important task for a potential partner in the privatization process will be to provide working capital of EUR 30 m, which Galenika cannot provide at the moment.

Novakovic outlined that this year Galenika expects profit of EUR 55 m and production totaling EUR 65 m. The plant has positive effects in current business operations and total financial results, still, depend on credit indebtness of Galenika.

He reminded that three years ago, Galenika in regular business generated losses of EUR 23 m and total loss of EUR 118 m.

There are 500 companies sin Serbia undergoing restructuring and the unlike other companies which are facing problems with production and salary payments, Galenika succeeded in increasing production and sales scope.

According to him, production plan 2015 will be even higher than the one in the current year.

He outlined that the secret of success of Galenika is the fact it did was not wasting time waiting for the support of the state but it took the steps on its own.

He thinks that if favorable business terms are provided and if Galenika continues growing like this, in 2016 it could generate three times higher profit.