Nova Varos municipality acquires Inova, they are waiting for investors

Nova Varos (Photo: novavaros.rs)

Nova Varos municipality bought Kokin Brod-based furniture plant Inova, which went private eight years ago and where production has never started again. Instead of for estimated EUR 3 m, for plant real estate, the owner offered it to a municipality for EUR 1,2 m.

Out of that sum, more than a half is an owner’s debt to municipality for construction land fee and the rest is paid by municipality in two parts. Out of former wood-processing giant with 600 people, only halls and three hecatres and a bunch of keys for all facilities left. Decision on acquisition of Inova was unanimous at the parliament and the plan is to support new renters to start production.

Estimation of the local self-governance is that they are in a “win” situation and that they will find the interested ones for parts or entire building.